Vornado Completes the Sale of
its 25% Interest in 330 Madison Avenue


NEW YORK.....VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed the previously announced sale of its 25% interest in 330 Madison Avenue to its partner at a $900 million valuation. Net proceeds to Vornado, after deducting the existing $500 million mortgage loan, is approximately $100 million. The financial statement gain, which will be recognized in the third quarter, is estimated to be $159 million. The tax gain is estimated to be $138 million.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

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Vornado Realty Trust published this content on 11 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2019 21:44:09 UTC