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| Vornado acquires 655 Fifth Avenue Manhattan retail and office property Vornado Realty Trust (VNO), a New York based real estate investment trust, announced that it has entered into an agreement to acquire a 57,500 square foot retail and office property located at the northeast corner of Fifth Avenue and 52nd Street, in Manhattan with 50 feet of frontage on Fifth Avenue. Vornado will acquire approximately 92.5% of this property for $278 million. The other 7.5% is owned by Madison Capital. The property is leased to Ferragamo through 2028 for its flagship Manhattan store, which is located both in the property and the adjacent property owned by Ferragamo. write your comments about the article :: © 2013 Construction News :: home page |