Passenger Trains > More changes at NY Penn?

Bloomberg News reports that air rights over NY's Penn Station may be in play again. Corporate changes in the parent of Madison Square Garden, which sits above Penn Station, mean the air rights may available for development. Corporate activists have targeted the poor performance of the family dominated, but publicly traded firm. In response, the firm is evaluating ways to return more value to its owners.

Since 1963, Madison Square Garden and an office building have occupied the space. Now, the split up of MSG's parent may create an opportunity to tear down both buildings and create something new on the site. Observers may note this building has now been on the site for the same duration as the original Penn Station (1912-1963).

The arena and concert facility won't be going anywhere soon. It has nine years left on its lease. Still, it will be interesting to see how this corporate development affects the remaining commuter operations after Amtrak moves to the Moynihan station.



http://www.bloomberg.com/news/2014-10-27/madison-square-garden-said-to-explore-split-into-two-companies.html

I doubt many tears will be shed when and if MSG finally comes down.

The entire arena was recently completely renovated....almost completely re-built bringing it up to standards set by newer NHL arenas. What a colossal waste of money if its life span is only 9 years. We really are a throw away society.