Vornado Realty Trust

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Vornado Realty Trust
Type Public
Traded as NYSEVNO
S&P 500 Component
Industry Real Estate Investment Trust
Founded 1982 as Two Guys
Headquarters New York City, New York, U.S.
Key people Steven Roth (Chairman)
Steven Roth
(CEO & Trustee)
Revenue Increase US$2.915 billion (2011)[1]
Operating income Increase US$856.153 million (2011)
Net income Increase US$622.302 million (2011)
Total equity Increase US$6.828 billion (2011)
Employees 4,020[2]
Website www.vno.com

Vornado Realty Trust is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's.

History[edit]

1999 K Street, NW in Washington, D.C. is being developed by Vornado Realty Trust. It was designed by architect Helmut Jahn.

On February 15, 2001, the Port Authority announced that Vornado Realty Trust had won the lease for the World Trade Center, paying $3.25 billion for the 99-year lease.[3] Silverstein Properties was outbid by $30 million by Vornado. However, Vornado balked over lease terms and possible tax liabilities that Silverstein was willing to accept.[4] Silverstein's bid for the lease to the World Trade Center was accepted on July 24, 2001.

On May 14, 2009, Vornado issued a press release announcing that the board had voted to replace Roth with Fascitelli as CEO of the company. Roth will remain chairman of the board, and Fascitelli will be the President and CEO of the company.[citation needed]

Major holdings[edit]

Divisions[edit]

Vornado Realty Trust controls various office and retail holdings, which are divided into the following divisions:

New York office[edit]

  • 1290 Avenue of Americas
  • Bloomberg Tower
  • 20 Broad Street
  • 770 Broadway
  • 150 East 58th St
  • 640 Fifth Avenue
  • 689 Fifth Avenue
  • 40 Fulton Street
  • 330 Madison Avenue
  • 595 Madison Avenue
  • 1740 Broadway
  • 90 Park Avenue
  • 350 Park Avenue
  • One Penn Plaza
  • Two Penn Plaza
  • 11 Penn Plaza
  • 888 Seventh Avenue
  • 155 Spring Street
  • 909 Third Avenue
  • 40–42 Thompson Street
  • 866 UN Plaza
  • 100 West 33rd Street
  • 7 West 34th Street
  • 330 West 34th Street
  • 29 West 57th Street
  • 31 West 57th Street
  • 49 West 57th Street
  • 50 West 57th Street
  • 608 5th Ave NY NY 10020

Washington D.C. Office[edit]

Malls[edit]

Vornado announced plans to sell its shopping mall portfolio in April 2012 to better focus on its office holdings.[5] As of March 2014, five Vornado malls have already been sold to other companies.

New York City retail[edit]

  • Upper West Side
    • 211–217 Columbus Avenue
  • Upper East Side
    • 1035 Third Avenue
    • 677–679 Madison Avenue
    • 759–771 Madison Avenue
    • 828–850 Madison Avenue
  • Midtown West
    • 27–29 West 57th Street
    • 31 West 57th Street
    • 49 West 57th Street
    • 50 West 57th Street
    • 825 Seventh Avenue
    • 888 Seventh Avenue
    • 1740 Broadway
  • Plaza Hotel District
    • 640 Fifth Avenue
    • 689 Fifth Avenue
    • 595 Madison Avenue
  • Midtown East
    • Bloomberg Tower
    • 909 Third Avenue
    • 964 Third Avenue
    • 968 Third Avenue
    • 150 East 58th Street
    • 715 Lexington Avenue
  • Grand Central
    • 90 Park Avenue
    • 330 Madison Avenue
  • Times Square
    • 1540 Broadway
  • UN District
    • 866 UN Plaza
  • Pennsylvania Plaza
    • One Penn Plaza
    • Two Penn Plaza
    • 11 Penn Plaza
    • Manhattan Mall
    • 7 West 34th Street
    • 330 West 34th Street
    • Hotel Pennsylvania
    • 435 Seventh Avenue
    • 484 Eighth Avenue
  • Union Square
    • 4 Union Square South
    • 25 West 14th Street
  • Greenwich Village
    • 692 Broadway
    • 770 Broadway
  • SOHO
    • 122-124 Spring Street
    • 386 West Broadway
    • 387 West Broadway
    • 73 Wooster
    • 478–486 Broadway
    • 40–42 Thompson Street
  • Wall Street
    • 40 Fulton Street
    • 20 Broad Street

New York state retail and strip malls[edit]

California office[edit]

Merchandise Mart Properties, Inc.[edit]

References[edit]

  1. ^ Yahoo.com
  2. ^ Yahoo.com
  3. ^ "Brookfield Loses Lease Bid". Toronto Star. February 23, 2001. 
  4. ^ Andrew Rice, Silverstein Recovers: Dark Horse May Win World Trade Center, New York Observer, April 8, 2001.
  5. ^ Nadja Brandt,Bloomberg. "Vornado To Hold Quarterly Calls, Sell Some Retail Centers." April 13, 2012. Retrieved July 13, 2012.
  6. ^ Ilaina Jonas, Reuters. "Macerich to buy two malls from Vornado and Vornado affiliate." October 22, 2012. Retrieved October 23, 2012.
  7. ^ Ilaina Jonas, Reuters. "Macerich to buy two malls from Vornado and Vornado affiliate." October 22, 2012. Retrieved October 23, 2012.

External links[edit]