its Best-in-Class Manhattan Street Retail Portfolio
PARAMUS, NEW JERSEY......VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed its previously announced acquisition of the retail condominium located at 666 Fifth Avenue at 53rd Street for $707 million, expanding its best-in-class Manhattan street retail portfolio to 2.3 million square feet. The retail condominium at 666 Fifth Avenue is leased to Uniqlo, Hollister and Swatch. Vornado also owns one-half of the office building above.
This acquisition will be used in a like-kind exchange for income tax purposes for two completed asset sales and the sale of the Green Acres Mall, Valley Stream, Long Island, New York, to be completed in the first quarter of 2013.
Vornado Realty Trust is a fully integrated equity real estate investment trust.