Vornado Completes Acquisition of 623 Fifth Avenue

Core Viewpoint - Vornado Realty Trust has completed the acquisition of a 36-story office condominium at 623 Fifth Avenue for $218 million, with plans to redevelop it into a premier Class A boutique office building [1]. Company Overview - Vornado Realty Trust is a fully-integrated equity real estate investment trust [2]. Acquisition Details - The acquired building has a total rentable area of 382,500 square feet and is currently 75% vacant [1]. - The acquisition price for the property was $218 million [1]. Future Plans - Vornado intends to completely reposition and redevelop the acquired property to enhance its market position as a best-in-class office space [1].