Walk out of Penn Station and look up. Most people just see a sea of glass, steel, and a whole lot of tourists looking lost. But if you’re standing near the corner of Eighth Avenue and 33rd Street, you're looking at 5 Pennsylvania Plaza New York NY. It isn't the tallest skyscraper in Manhattan. It isn't the flashiest. Honestly, compared to the futuristic jagged peaks of Hudson Yards just a few blocks west, it looks like a sturdy, reliable veteran of the Midtown landscape.
It’s a powerhouse.
Think about the location. It sits right in the heart of the Penn District, an area that has undergone a massive, multi-billion dollar facelift recently. While the new glass towers get the Instagram shots, 5 Penn Plaza is where the actual work happens. It’s an office building that manages to feel both historic and surprisingly modern at the exact same time. It’s got that classic New York grit but with the high-speed fiber and upgraded lobbies that tech and media firms demand today.
The Architecture of a Midtown Workhorse
Built back in 1916, this place wasn't originally meant to be a high-end corporate hub. It was the masterwork of architects Schwartz & Gross. You might recognize that name if you’re into Upper West Side luxury apartments; they designed dozens of them. At 5 Penn, they went with something substantial. Stone. Brick. Serious bones.
The building spans about 24 stories. It’s got that "U" shape or "E" shape configuration common in that era to maximize natural light before everyone had LED panels overhead. Today, that means the floor plates are actually pretty flexible for modern open-office layouts.
I’ve talked to brokers who handle Midtown West properties, and they always mention the "load factor" here. It’s built like a tank. You can put heavy equipment or dense server rooms in a place like this much easier than in some of the lightweight, "pencil" towers popping up on Billionaire’s Row.
Who Is Actually Inside 5 Penn Plaza?
Vornado Realty Trust owns the joint. If you know New York real estate, you know Vornado basically owns the neighborhood. They’ve poured a staggering amount of money into the Penn District.
The tenant roster is a weird, fascinating mix. It isn't just one type of company. You have SiriusXM Satellite Radio, which has a massive presence here. Think about that—some of the biggest names in broadcasting are walking these halls every day. Then you have groups like the American Foundation for the Blind and various healthcare administrative offices.
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It’s a "Class A" building. In real estate speak, that basically means it’s the top tier. It has a 24/7 attended lobby, which is basically a requirement if you’re doing business at this level in Manhattan.
Why the Location Is a Total Cheat Code
Transportation is the big one. Obviously.
If you work at 5 Pennsylvania Plaza New York NY, you are effectively connected to the entire East Coast. You are steps away from:
- The A, C, and E subway lines.
- The 1, 2, and 3 lines.
- The LIRR (Long Island Rail Road).
- NJ Transit.
- Amtrak.
I’ve seen people commute from Philadelphia to this building. They get off the train at Penn Station, walk across the street, and they’re at their desk. No transfer. No sweaty 20-minute subway ride. That kind of convenience is why the rents here stay high even when the broader office market gets shaky.
But it’s more than just the trains. You’re right next to Madison Square Garden. If you’re a tenant here, your "after-work drinks" spot might literally be a Knicks game or a Rangers game. Or a concert. The energy in this specific pocket of the city is chaotic, sure, but it’s undeniably alive.
The Recent Upgrades You Should Know About
Vornado didn't just let the building sit. They realized that to compete with the shiny new towers at 1 Manhattan West or 50 Hudson Yards, they had to modernize.
They did a massive renovation of the lobby and the entrance. They moved the main entrance to 34th Street to make it feel more prestigious and less like a side door. The new lobby is all sleek stone, glass, and high-end lighting. It feels expensive. Because it was.
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They also upgraded the HVAC systems. This sounds boring until you realize that post-2020, every major corporation is obsessed with air filtration and "wellness" standards. 5 Penn Plaza actually delivers on that.
The Reality of the Penn District "Mess"
Let's be real for a second. The area around 5 Penn Plaza hasn't always been pretty. For years, the block was synonymous with scaffolding, pigeons, and the general grime of a transit hub.
But things changed. The opening of the Moynihan Train Hall across the street shifted the center of gravity. Suddenly, the neighborhood felt premium. The retail started changing. Instead of just cheap pizza and souvenir shops, you started seeing high-end coffee and actual sit-down restaurants that didn't feel like a tourist trap.
Is it perfect? No. It’s still Midtown. It’s loud. It’s crowded. But 5 Pennsylvania Plaza New York NY sits right at the edge of that transition where "gritty transit hub" meets "global business district."
Space Availability and the Market
If you’re looking for space here, you aren't finding many bargains. Rents in the Penn District for Class A space can easily push into the $80s or $90s per square foot, and for the higher floors with views, it goes north of that.
Small businesses usually can't afford this. This is a building for established firms that need to be where the action is. The floor plates are around 25,000 to 30,000 square feet. That’s a lot of room.
One thing that surprises people is the view. Because the building is relatively unobstructed to the south and west (for now), you get these incredible shots of the Statue of Liberty and the Hudson River from the upper levels. It’s a nice perk when you’re stuck in a meeting at 4:00 PM on a Tuesday.
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Addressing the Misconceptions
A lot of people confuse 5 Penn Plaza with the old Hotel Pennsylvania, which was across the street and has since been demolished to make way for Penn 15. Don't make that mistake. 5 Penn Plaza is a distinct office tower.
Another misconception is that it’s just a "commuter building." People think everyone leaves at 5:01 PM. While the commute is a draw, the neighborhood has become a 24-hour zone. The tech companies in the building have shifted the culture. It’s much more common now to see people in the lobby in hoodies and sneakers than in three-piece suits.
How to Navigate 5 Penn Plaza Like a Pro
If you have a meeting there, give yourself an extra ten minutes. Not because the building is hard to find—it’s massive—but because the security is tight. You’ll need a QR code or a valid ID to get past the turnstiles.
If you’re visiting:
- Use the 34th Street entrance. It’s the main one.
- Grab coffee at one of the spots in Moynihan first if you want to impress someone; the options inside the building are more "functional" than "fancy."
- Check out the rooftop views if you can get an invite. They are some of the most underrated in the city.
Actionable Insights for Businesses and Visitors
If you're considering this address for your company, do a "transit audit" for your employees. You’ll likely find that this location cuts 15–30 minutes off the daily commute for anyone coming from Jersey, Long Island, or Westchester. That’s a massive retention tool.
For visitors or those looking to explore the area, don't just stick to the building. The architecture of the surrounding blocks—specifically the James A. Farley Post Office—is some of the best in the world.
The value of 5 Pennsylvania Plaza New York NY isn't in its height. It’s in its reliability. In a city that is constantly tearing things down to build something shinier, 5 Penn stands as a testament to the fact that if you have a great location and solid bones, you’ll always be relevant.
Next Steps for Moving Forward
For those looking to lease or learn more about the specific technical specs of the building, contact the Vornado leasing office directly. They maintain the most up-to-date availability lists, which change monthly. If you are a commuter, download the MTA TrainTime and NJ Transit apps now; navigating the Penn District starts with mastering the schedules underneath it. For a deep look at the neighborhood's future, visit the Empire State Development website to see the long-term "Penn Station Area" redevelopment plans, which will continue to impact property values and foot traffic around 5 Penn Plaza for the next decade.