Vornado to Sell Four Manhattan Retail Properties and The Armory Show for $124.4 Million
27 Julio 2023 - 3:56PM
Vornado Realty Trust (NYSE:VNO) announced today that it has entered
into an agreement to sell four Manhattan retail properties located
at 510 Fifth Avenue, 148 – 150 Spring Street, 443 Broadway and 692
Broadway and that it has sold The Armory Show in New York for a
combined sales price of $124.4 million.
The sale of the four retail properties is
subject to customary closing conditions and is expected to close in
the third quarter.
The combined impact of the two transactions will
be an approximately $20 million gain, which will be recognized in
the third quarter.
Vornado Realty Trust is a fully-integrated
equity real estate investment trust.
CONTACT
Thomas J. Sanelli(212) 894-7000
Certain statements contained herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are not guarantees of performance. They represent
our intentions, plans, expectations and beliefs and are subject to
numerous assumptions, risks and uncertainties. Our future
results, financial condition and business may differ materially
from those expressed in these forward-looking statements. You can
find many of these statements by looking for words such as
"approximates," "believes," "expects," "anticipates," "estimates,"
"intends," "plans," "would," "may" or other similar expressions in
this press release. For a discussion of factors that could
materially affect the outcome of our forward-looking statements and
our future results and financial condition, see “Risk Factors” in
Part I, Item 1A, of our Annual Report on Form 10-K for the year
ended December 31, 2022. Currently, some of the factors are the
increase in interest rates and inflation and the continuing effect
of the COVID-19 pandemic on our business, financial condition,
results of operations, cash flows, operating performance and the
effect that these factors have had and may continue to have on our
tenants, the global, national, regional and local economies and
financial markets and the real estate market in general.
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