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Madison Square Garden Parent Signs Massive Headquarters Renewal with Vornado
Madison Square Garden Entertainment has signed a new 20-year lease for 428,000 square feet at Vornado Realty Trust’s PENN 2, which will remain MSG Entertainment’s corporate headquarters. The 1.8-million-square-foot office property occupies one of the few double-wide blocks in New York City.
PENN 2 is in the midst of a full redevelopment as part of Vornado’s multibillion-dollar transformation of the PENN DISTRICT. Slated for completion in the second half of 2023, the PENN 2 redevelopment will feature a giant new bustle across its entire 430-foot frontage along Seventh Avenue.
Steven Roth, chairman and CEO of Vornado, said, “We are delighted to continue our long-standing partnership with MSG, the world’s premier sports and entertainment brand. MSG’s commitment to PENN 2 continues the momentum we are generating in the PENN DISTRICT, where we are creating a one-of-a-kind, next generation work environment at the heart of New York City’s thriving West Side.”
- ◦Lease
