New 1,200-Foot-Tall Skyscraper Planned for Hotel Pennsylvania Site

New renderings released reveal plans for a 56-story, 1,200-foot-tall skyscraper that will replace the shuttered Hotel Pennsylvania at 15 Penn Plaza. The 2.7 million-square-foot commercial tower, dubbed PENN 15 will be developed by Vornado Realty Trust as part of the REIT’s 7.4 million-square-foot Penn District master plan.