The popular fast-casual chain inked a 10-year lease with Vornado Realty Trust, which owns a corridor of Pennsylvania Station, a Vornado spokesman confirmed Wednesday. The terms of the deal were not disclosed, but rent could be as much as $500 per square foot, local tabloid New York Post reported when they broke the story.
The companies did not say when the new location would open and declined to comment further.
The tie-up between the trendy eatery and Vornado, Manhattan's largest owner of street retail, comes as New York tries to revive the dilapidated hub. Despite being one of the world's most heavily trafficked transit centers, Penn station's condition has been called "horrible," "despicable" and "hellish" by policy makers, prompting New York Gov. Andrew Cuomo to propose its renovation.
Vornado has already contributed some flair to Penn Station through its involvement in The Pennsy, a food space that includes fare from celebrity chefs like Mario Batali. New York City-based Shake Shack has also been on the move, planting its flag in new locations like Dallas and Scottsdale, Arizona, over the past year.