Vornado Realty Trust
Vornado Realty Trust (NYSE: VNO) 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
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.
Vornado, which announced plans to buy the Manhattan Mall in Herald Square in November 2006, is also part of the development team picked by New York state to construct an extension of Penn Station in the New York State landmark James Farley Post Office building. Though the Farley conversion is now stalled, Vornado and its partner, The Related Companies, are also pushing a much larger project. It would tack a new Madison Square Garden on the Ninth Avenue end of the post office complex and replace the existing arena with office towers and a new Penn Station.[5]
In 1996 Vornado Chairman Steven Roth lured then-Goldman Sachs Real Estate President Michael Fascitelli to Vornado with a lucrative 50 million dollar offer.
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.
Major holdings
Divisions
Vornado Realty Trust controls over $20 billion in assets, including $12.7 billion in real estate net of depreciation and amortization, $2.8 billion in cash, and $1.5 billion of investments as of 3Q07. These holdings are divided into the following divisions:
New York Office
- 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
Washington D.C. Office
- Arlington/Rosslyn-Courthouse
- Rosslyn Plaza C
- Rosslyn Plaza E
- Rosslyn Plaza D
- Rosslyn Plaza North
- Arlington Plaza
- Courthouse Plaza One
- Courthouse Plaza Two
- Crystal City
- Bethesda/Democracy Plaza
- One Democracy Plaza
- Two Democracy Plaza
- The Bedford Building
- The Camalier Building
- The Champlain Building
- The Westmoreland Building
- Reston/Dulles Corridor
- Reston Executive Center I
- Reston Executive Center II
- Reston Executive Center III
- Commerce Executive Park III
- Commerce Executive Park IV
- Commerce Executive Park V
- Skyline City, Falls Church, VA
- Skyline One
- Skyline Two
- Skyline Three
- Four Skyline Place
- Five Skyline Place
- Six Skyline Place
- Seven Skyline Place
- One Skyline Tower
- Tysons Corner/Fairfax
- Fairfax Square
- Tysons Dulles Plaza I
- Tysons Dulles Plaza II
- Tysons Dulles Plaza III
- Washington, D.C.
- 1700 K Street
- 1725 DeSales Street
- 1999 K Street
- 1925 K Street
- 800 17th Street (PNC Center)
- 1919 M Street
- 1101 17th Street
- 2101 L Street
- 1150 17th Street
- 1776 K Street (Montgomery Building)
- 1666 K Street
- 1750 Pennsylvania Avenue
- 1730 M Street
- 1140 Connecticut Avenue
- Nassif Building
Malls
- The Outlets at Bergen Town Center, NJ
- Beverly Connection, CA
- Broadway Mall, NY
- Downtown Crossing, MA
- Green Acres Mall, NY
- Kings Plaza, NY
- Las Catalinas Mall, PR
- Manassas Mall, VA
- Monmouth Mall, NJ
- Montehiedra Town Center, PR
- Oakdale Mall, NY
- Rego Center, NY
- Springfield Mall, VA
- The Shops On Lake Avenue, CA
- Waterside Place, MA
New York City Retail
- 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
- 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
- SOHO
- 122-124 Spring Street
- 386 West Broadway
- 387 West Broadway
- 73 Wooster
- 478-486 Broadway
- 40-42 Thompson Street
New York State Retail and Strip Malls
- Amherst Shopping Center, Amherst, New York
- Broadway Mall, Hicksville, New York
- Bruckner Plaza, Bronx, NY
- Burnside Plaza, Inwood, New York
- Commack Shopping Center, Commack, New York
- Dewitt Shopping Center, DeWitt, New York
- The Flushing, Queens Center, Queens, NY
- Forest Plaza, Staten Island, NY
- Meadowbrook Commons, Freeport, New York
- Freeport Shopping Center, Freeport, New York
- Green Acres Mall, Valley Stream, NY
- Henrietta Shopping Center, Henrietta, New York
- Kings Plaza Shopping Center, Brooklyn, NY
- Menands Shopping Center, Menands, NY
- New Hyde Park Center, New Hyde Park, NY
- North Syracuse Plaza, North Syracuse, NY
- Oakdale Mall, Johnson City, New York
- Forest Hills Shopping Center, Queens, NY
- Rego Park Center, Rego Park, Queens, NY
- Rochester Plaza, Rochester, New York
- South Hills Mall, Poughkeepsie, NY
Merchandise Mart Properties, Inc.
References
External links