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CRAIN'S --Vornado Realty looks to sell 1 Park Ave. tower
January 21, 2014
Vornado Realty Trust is planning to sell 1 Park Ave., an office tower east of New York's Herald Square, almost three years after rescuing the building from possible default, three people familiar with the offering said.
The real estate investment trust, which has interests in more than 20 million square feet of Manhattan offices, hired brokers Douglas Harmon and Adam Spies of Eastdil Secured to market the 20-story, 925,000-square-foot tower, according to the people, who asked not to be identified because the details are private. New York-based Vornado is seeking about $650 million, two of the people said.