3. Madison Square Garden, 2 Penn Plaza We weren't kidding about the area around the Penn Station railroad station. The third biggest lease of the year was that of a name associated with the surroundings since Irving Felt struck a deal with the Pennsylvania Railroad for the land above the station in 1960: Madison Square Garden. In November Vornado announced that Madison Square Garden Entertainment (MSG) was renewing its 428,000 square feet of office space for its corporate headquarters just across from the Garden at 2 Penn Plaza for 20 years. It's understandable that MSG would heed Vornado's offer. The real estate investment trust is sinking millions into the redevelopment of the property, courtesy of plans from MdeAS Architects, which include a full recladding of the exterior and a 65,000-square-foot rooftop park.