Press Release


Joseph Macnow
Work(212) 894-7000
December 27, 2016

Vornado Announces Final Disposition of Skyline Properties
Recognizing $486 Million Gain

NEW YORK....Vornado Realty Trust (NYSE: VNO) today announced the final disposition by the receiver of its Skyline properties in Fairfax, Virginia.  As a result, all assets (approximately $237 million) and liabilities (approximately $723 million) related to the Skyline properties will be removed from Vornado’s balance sheet and in the fourth quarter of 2016, Vornado will recognize a non-cash financial statement gain of approximately $486 million and no taxable income.  Vornado has no further obligations relating to the Skyline Properties.

Vornado Realty Trust is a fully integrated equity real estate investment trust.