Submitted by ShinyGodzilla t3_ykgk26 in nyc
pixel_of_moral_decay t1_iv32kgv wrote
Reply to comment by myassholealt in Vornado pumps brakes on Gov. Kathy Hochul's Penn Station project by ShinyGodzilla
It also buys time for more tax breaks.
He’s not going to be able to lease the space, which means money is tied up in that project and high interest rates.
Much better to leave money in the bank, spend the time insisting he needs tax breaks to help “create jobs” then try to time construction with the emergence out of a recession.
He’ll get $100M+ out of this move.
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