Vornado Realty Trust

Vornado Realty Trust is a fully-integrated equity REIT focused primarily on Manhattan office and high-street retail real estate. It holds about 35.7 million square feet at 100% (27.9 million at its share) as of September 30, 2026. Its New York segment includes office buildings with base retail, concentrated in the PENN District (PENN 1, PENN 2, PENN 11 and the Farley Building), the Plaza District and Midtown. It also owns Street Retail properties on Upper Fifth Avenue, Madison Avenue and Times Square. The segment further includes the 1,328-unit Independence Plaza residential complex, a 32.4% interest in Alexander's, Inc. (including 731 Lexington Avenue, leased to Bloomberg) and signage and Building Maintenance Services (cleaning) businesses. Outside New York, it owns THE MART in Chicago (office, showroom and trade-show space) and a 70% interest in 555 California Street in San Francisco. Other holdings include Rosslyn Plaza, Sunset Pier 94 Studios and ground-leased land in Atlantic City. Its largest tenants include Meta Platforms, Omnicom, New York University, Bloomberg, Madison Square Garden, Google/Motorola Mobility, Apple and Amazon; the top 30 tenants represent 43.4% of annualized escalated rent. The company pursues large-scale development through joint ventures and owned land. These include a 36.1% effective interest in the planned ~1.9 million square foot 350 Park Avenue tower anchored by Citadel, the 623 Fifth Avenue redevelopment, and about 3.4 million zoning square feet of future opportunities, including PENN 15. Its portfolio also includes a 51.5% interest in the Fifth Avenue and Times Square JV, a 49% stake in Park Avenue Plaza, a 50% interest in 280 Park Avenue and an investment in the Farley Building. Updated Nov 2, 2026