Verizon Inks 203K-SF Deal at Vornado’s Penn 2 After Essex Crossing Shift

Nearly two years after abandoning its plans to move into offices at Essex Crossing, Verizon has signed an even bigger deal in the Penn District.

The telecommunications firm signed a lease for 203,000 square feet across the eighth through 10th floors of Vornado Realty Trust’s 2 Pennsylvania Plaza, known as Penn 2, for a term of 10 years, according to the landlord.

Vornado did not disclose the asking rent, but the average asking rent for Class A office space in the Penn District was $98.99 per square foot in the second quarter of 2025, according to a report from Transwestern.

“Our reinvention of The Penn District has produced a vibrant gateway to New York’s new West Side and represents a new era of workplace thinking, where dynamic environments, unparalleled connectivity, and employee-focused design come together to inspire collaboration and innovation,” Glen Weiss, executive vice president of office leasing for Vornado, said in a statement.

Weiss, Josh Glick, Jared Silverman and Anthony Cugini handled the deal in-house for Vornado while a Cushman & Wakefield team of Josh Kuriloff, Peyton Horn, Heather Thomas and Kyle Ernest negotiated on behalf of the tenant.

C&W did not immediately respond to a request for comment.

In October 2021, Verizon signed one of the biggest leases in New York City following the pandemic, and announced plans to relocate from 140 West Street with a 143,000-square-foot deal at Essex Crossing’s 155 Delancey Street. 

But by December 2023, Verizon decided against the relocation to the Lower East Side and listed all 143,000 square feet on the sublease market, Commercial Observer reported at the time.

Mark Hallum can be reached at mhallum@commercialobserver.com.