VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed
the previously announced sale of a parcel of land known as Harlem Park
located at 1800 Park Avenue (at 125th Street) in New York City for $66
million plus additional amounts which may be received for brownfield
credits.
The sale resulted in net proceeds of approximately $63 million and a net
gain of approximately $23 million, which will be recognized in the
fourth quarter.
Vornado Realty Trust is a fully integrated equity real estate investment
trust.
Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing commitments
and general competitive factors.
Copyright Business Wire 2013