Today we explore the rise and fall of New York Cities famous Pennsylvania Station. This station was once one of the most beautiful structures in America, but now - little remains beyond photographs. Pennsylvania Station was a historic railroad station in New York City, named for the Pennsylvania Railroad (PRR), its builder and original tenant. The station occupied an 8-acre (3.2 ha) plot bounded by Seventh and Eighth Avenues and 31st and 33rd Streets in Midtown Manhattan. As the terminal shared its name with several stations in other cities, it was sometimes called New York Pennsylvania Station, or Penn Station for short.