Vornado Realty Trust Acquires Retail And Residential Property On Upper East Side For $165M

Vornado Realty Trust has purchased the property located at 151 E. 85th St. on the Upper East Side in New York City. The property was acquired for $165 million in 2010 from Extell Development Company, led by Gary Barnett. The asset consists of both retail and residential space, with notable tenants including H&M, Shake Shack, and Barnes & Noble. The property is situated in a prime location on the Upper East Side, known for its affluent residents and vibrant retail scene.

Summary of transaction details

• Property Type: Retail & Residential
• Transaction Amount: $165 million
• Address: 151 E. 85th St., New York City, NY
• Market: Upper East Side

The financing for the acquisition was provided by HSBC, a leading global bank. Eastdil Secured Grant acted as the brokers in the deal, representing Vornado Realty Trust in the transaction. Vornado Realty Trust is a prominent real estate investment trust known for its successful commercial real estate ventures. The company has a strong presence in the New York City market and has made significant investments in prime properties across the city.