Latest news with #ThomasJ.Sanelli
Business Upturn
5 days ago
- Business
- Business Upturn
Vornado JV Completes Sale of 512 West 22nd Street for $205 Million
By GlobeNewswire Published on August 15, 2025, 03:02 IST NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) — Vornado Realty Trust (NYSE:VNO) announced today that its 55% owned joint venture has completed the previously announced sale of 512 West 22nd Street, a 173,000 square foot Class A office building, for $205 million. After repayment of the $123 million mortgage loan encumbering the property and transaction expenses, Vornado's share of the net proceeds is approximately $38 million. Vornado expects to recognize an approximate $11 million financial statement gain from this transaction in the third quarter. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli (212) 894-7000 Certain statements contained herein may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as 'approximates,' 'believes,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'would,' 'may' or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see 'Risk Factors' in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
05-06-2025
- Business
- Yahoo
Vornado Completes Refinancing of Independence Plaza
NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its 50.1% owned joint venture has completed a $675 million refinancing of Independence Plaza, a 1,328 unit residential complex in the Tribeca submarket of Manhattan. The five-year interest only loan matures in June 2030 and has a fixed rate of 5.84%. This loan replaces the prior $675 million loan that bore interest at 4.25% and was scheduled to mature in July 2025. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli(212) 894-7000 Certain statements contained herein may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see 'Risk Factors' in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Vornado JV to Sell 512 West 22nd Street for $205 Million
NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its 55% owned joint venture has entered into an agreement to sell 512 West 22nd Street, a 173,000 square foot Class A office building, for $205 million. The sale is expected to close in the third quarter of 2025 and is subject to customary closing conditions. A portion of the proceeds will be used by the joint venture to repay the $123.6 million mortgage loan encumbering the property. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli(212) 894-7000 Certain statements contained herein may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see 'Risk Factors' in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
