Century old hotel Pennsylvania may never open again

For more than two decades Steven Roth, the founder and chairman of Vornado Realty, has wanted to close the Hotel Pennsylvania, demolish it, and build a tower in its place. And now due to coronavirus pandemic he is forced to take this step. In 1983, Elie Hirschfeld, his father Abraham Hirschfeld and Arthur Cohen together with the Penta Hotels chain paid $ 46 million for this hotel. They ourhauled it and renamed it as New York Penta.
https://therealdeal.com/2020/05/06/vornado-might-never-reopen-century-old-hotel-pennsylvania-ceo-says/