Vornado in line for $1.2B tax break at Penn: report – Robert Khodadadian

Vornado Realty Trust could secure a tax break worth as much as $1.2 billion if it develops all of the sites surrounding Penn Station. That’s according to a new report by watchdog group Reinvent Albany, which says it commissioned the study to add transparency to the state’s plan to incentivize the construction of 18 million square feet of commercial space near Penn. The projects are supposed to help pay for the redevelopment and expansion of

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Politics, Kathy Hochul, penn station, Vornado Realty Trust The Real Deal New York Read More