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Vornado Realty Trust to Purchase 49% Interest in Park Avenue Plaza from Closer Properties
Fisher Brothers Retains Current 51% Majority Stake; Will Continue to Manage and Lease the Trophy AssetNEW YORK, April 28, 2026 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has agreed to purchase a 49% interest in Park Avenue Plaza from Closer Properties at a gross asset valuation of $1.1 billion ($950 per square foot), a significant discount to replacement cost. Park Avenue Plaza is a 45-story, 1.2 million rentable square foot building located at 55 East 52nd Stree
About this update from Vornado Realty Trust
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