President Bush in his most recent State of the Union address said that he wanted to support the development of an “ownership society” where every American stands to benefit from the pride of owning something, whether it be a strong investment portfolio or a ranch with lots of brush to clear. In New York, D.C., and elsewhere, this ownership society includes the giant real estate conglomerates that hold a great deal of power in how our cities are shaped. 
If only we were all so lucky (or unlucky perhaps) to play Monopoly with real buildings …
Comparing two train stations — Pennsylvania Station in Midtown Manhattan and Union Station at the foot of Capitol Hill — it is evident that the commercial real estate game can be quite lively. But before we dive into this, we should key you in to some inside information about the future of New York’s deservedly maligned passenger rail gateway. What does Penn Station have to do with the nation’s capital? Well, there isn’t any direct impact on D.C. to speak of, but there are some interesting D.C. connections, which illustrates the complexity of the world of property moguls.
So on to the news! According to an informed DCist source, Vornado Realty Trust looks poised to clinch one of the hottest real estate development contracts in recent New York City history: the future Moynihan train station at the Farley Post Office on Eighth Avenue between 31st and 33rd streets, across the street from Madison Square Garden and Penn Station. Of course, there are still many what ifs out there.
