Vornado Realty Trust to Acquire New York City Property for $218 Million-March 2024-www.financetom.com

Vornado Realty Trust to Acquire New York City Property for $218 Million

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Vornado Realty Trust to Acquire New York City Property for $218 Million

Aug 25, 2025 5:44 AM

08:28 AM EDT, 08/25/2025 (MT Newswires) -- Vornado Realty Trust ( VNO ) said Monday that it signed a deal to buy a 36-story office condominium in Manhattan, New York City, for $218 million.

Vornado said the property, located at 623 Fifth Avenue, is currently 75% vacant and that it intends to completely reposition and redevelop it into a Class A boutique office building.

The real estate investment trust said it expects to finalize the purchase in September and complete the redevelopment by 2027.

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