Vornado to Reap $20M Gain following Sale of a Commercial Portfolio and The Armory Show in New York
A portfolio of four commercial properties and The Armory Show in New York have been sold by Vornado Realty Trust for a combined total of $124.4 million to an undisclosed buyer(s). Expected to close in the 3rd quarter of 2023, the REIT will see an approximately $20 million gain from the pair of transactions. Among the Midtown South commercial properties, the three buildings located in SoHo include 148 and 150 Spring Street — 4-story buildings approximately 5,968-square-foot and 6,400-square-foot respectively; and 443 Broadway, an approximately 18,139-square-foot retail condominium. The fourth property is located in NoHo at 692 Broadway, and per city records Vornado owns the five commercial condominium units at the base of a 12-story mixed-use condominium.