The Landmarks Preservation Commission will again review proposals from Vornado and Rogers Stirk Harbour + Partners to redevelop and expand an existing building in the city’s West Chelsea Historic District.
Vornado Realty Trust has purchased the seven-story Otis Elevator Building at 260 11th Avenue, in West Chelsea, for roughly $80 million in stock units, according to Bloomberg Business, and is leasing the land under the building for 99 years. Vornado is planning to convert the building into office space; an expansion is also possible as the building has available development rights.