Core Insights - Vornado Realty Trust has completed the sale of a Class A office building located at 512 West 22 Street for $205 million, with a net proceeds share of approximately $38 million after mortgage repayment and transaction expenses [1][2] Financial Impact - The company expects to recognize an approximate $11 million financial statement gain from this transaction in the third quarter [2]

Key Takeaways Vornado completed a $120M refinancing for its Manhattan retail property, 4 Union Square South.The 10-year loan carries a fixed 5.64% interest rate, replacing SOFR plus 1.50% loan maturing in August 2025.The refinancing extends maturities, enhancing Vornado's liquidity and overall financial flexibility.Vornado Realty Trust, Inc. (VNO) announced that it has completed a refinancing of $120 million for 4 Union Square South, a Manhattan retail property encompassing 204,000 square feet of space.The ...

NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has completed a $120 million refinancing of 4 Union Square South, a 204,000 square foot Manhattan retail property. The ten-year interest only loan has a fixed rate of 5.64%. The loan replaces the previous $120 million loan that bore interest at SOFR plus 1.50% (5.85% as of August 11, 2025) and was originally scheduled to mature in August 2025. Vornado Realty Trust is a fully-integrated equity real estate inv ...

Core Insights - Vornado Realty Trust's second-quarter 2025 adjusted funds from operations (FFO) were 56 cents per share, exceeding the Zacks Consensus Estimate of 53 cents, but reflecting a 1.8% decline year over year [1][11] - Total revenues for the quarter were $441.4 million, falling short of the Zacks Consensus Estimate of $455.4 million, and representing a nearly 2% decrease year over year [2] Financial Performance - Total same-store net operating income (NOI) for the quarter was $260.8 million, up from $247.4 million in the prior-year quarter, with increases in the New York, THE MART, and 555 California Street portfolios of 1.8%, 57.7%, and 3.1% respectively [3][11] - The New York office portfolio saw leasing of 1,479,000 square feet at an initial rent of $101.44 per square foot, with a weighted average lease term of 6.8 years [4] - In the New York retail portfolio, 57,000 square feet were leased at an initial rent of $96.77 per square foot, with a weighted average lease term of 8.1 years [5] - At THE MART, 127,000 square feet were leased at an initial rent of $50.87 per square foot, with a weighted average lease term of 5.6 years [6] Portfolio Activity - A joint venture with a 55% interest sold 512 West 22nd Street, a 173,000 square foot office building, for $205 million [8] - Another joint venture with a 50% interest completed the sale of the 49 West 57th Street commercial condominium during the same period [8] Occupancy Rates - The total New York portfolio occupancy was 85.2%, down 310 basis points year over year, while THE MART's occupancy was 78.2%, up 130 basis points year over year, and 555 California Street's occupancy was 92.3%, down 220 basis points year over year [7] Balance Sheet - Vornado ended the quarter with cash and cash equivalents of $1.2 billion, an increase from $568.9 million as of March 31, 2025 [9]

Vornado Realty Trust (VNO) Q2 2025 Earnings Call August 05, 2025 10:00 AM ET Company ParticipantsSteven Borenstein - EVP & Corporation CounselSteven Roth - Chairman and Chief Executive OfficerMichael Franco - President & CFOGlen Weiss - Executive VP of Office Leasing & Co-Head of Real EstateFloris van Dijkum - MD & Equity ResearchJohn Kim - MD - U.S. Real EstateJana Galan - DirectorVikram Malhotra - Managing DirectorCaitlin Burrows - Vice PresidentRonald Kamdem - MD & Head - US REITs and CRE ResearchBrendan ...

Vornado Realty Trust (VNO) Q2 2025 Earnings Call August 05, 2025 10:00 AM ET Speaker0Good morning, and welcome to the Vornado Realty Trust Second Quarter twenty twenty five Earnings Call. My name is Michael, and I will be your operator for today's call. This call is being recorded for replay purposes. All lines are in a listen only mode. Our speakers will address your questions at the end of the presentation during the question and answer session.I will now turn the call over to Mr. Steve Borenstein, Execut ...

Core Insights - Vornado reported $441.44 million in revenue for the quarter ended June 2025, reflecting a year-over-year decline of 2% and a surprise of -3.06% compared to the Zacks Consensus Estimate of $455.38 million [1] - The EPS for the same period was $0.56, which is an increase from $0.18 a year ago, resulting in an EPS surprise of +5.66% against the consensus estimate of $0.53 [1] Financial Performance Metrics - Total Property Square Feet in New York was reported at 20,857.00 Ksq ft, slightly below the average estimate of 20,893.00 Ksq ft [4] - Occupancy rates in New York were 85.2%, exceeding the average estimate of 84.3% [4] - New York Retail occupancy was reported at 67.7%, lower than the average estimate of 72.1% [4] - New York Office occupancy was 86.7%, in line with the average estimate of 86.6% [4] - Total revenues from Other sources were $83.27 million, surpassing the average estimate of $79.58 million, marking a year-over-year increase of +0.7% [4] - Total revenues from New York were $358.17 million, below the average estimate of $376.94 million, representing a -2.6% change year-over-year [4] - Management and Leasing Fees generated $2.93 million, significantly lower than the average estimate of $3.74 million, indicating a -56.4% year-over-year decline [4] - Total revenues from Fee and Other Income were $59.19 million, exceeding the average estimate of $54.81 million, reflecting a +4.4% year-over-year change [4] - BMS Cleaning Fees totaled $37.43 million, slightly above the average estimate of $37.11 million, showing a -2.7% change year-over-year [4] - Other income from Fee and Other Income was $18.83 million, surpassing the average estimate of $15.06 million, with a year-over-year increase of +63.8% [4] - Total rental revenues were reported at $382.25 million, below the average estimate of $400.52 million, indicating a -2.9% change year-over-year [4] - Property rentals generated $332.18 million, lower than the average estimate of $351.66 million, reflecting a -3.4% year-over-year change [4]

INDEX | | Page | | --- | --- | | BUSINESS DEVELOPMENTS | 3 - 4 | | FINANCIAL INFORMATION | | | Financial Highlights | 5 | | FFO, As Adjusted Bridge | 6 | | Net Operating Income, EBITDAre, FFO and FAD | 7 | | Consolidated Balance Sheets | 8 | | Net Income Attributable to Common Shareholders (Consolidated and by Segment) | 9 - 11 | | Net Operating Income at Share and Net Operating Income at Share - Cash Basis by Segment and Subsegment | 12 | | Same Store NOI at Share and Same Store NOI at Share - Cash Basis | ...

NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended June 30, 2025 Financial Results NET INCOME attributable to common shareholders for the quarter ended June 30, 2025 was $743,819,000, or $3.70 per diluted share, compared to $35,260,000, or $0.18 per diluted share, for the prior year's quarter. The increase is primarily due to the $803,248,000 gain related to the 770 Broadway master lease with New York University ("NYU"). FUNDS FROM OPERATIONS ("FFO") a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-11954 (Vornado Realty Trust) Commission File Number: 001-34482 (Vornado Realty L.P.) Vornado Realty Trust Vornado Realty L.P. (Exa ...