What is the latest status of the project “Park Avenue Plaza Acquisition”?

The status recorded for “Park Avenue Plaza Acquisition” is completed.

What is the budget and commercial profile for the project “Park Avenue Plaza Acquisition”?

Taiyo normalizes the budget of “Park Avenue Plaza Acquisition” to USD 1140000000.

Where can I verify the source and access all details for “Park Avenue Plaza Acquisition”?

This Taiyo project page references The Globe and Mail along with the original URL (https://www.theglobeandmail.com/investing/markets/markets-news/Motley%20Fool/1719492/vornado-vno-q1-2026-earnings-call-transcript/). Taiyo standardizes official data into a consistent, searchable project profile.

Park Avenue Plaza Acquisition

Completed · New York · Last reported May 2026

Source: The Globe and Mail

Project

Completed

Vornado purchased a 49% stake in a 1.2 million square foot, 99%-occupied Class A office building on Park Avenue. The building is rented 40% to 50% below market and was acquired at $950 per square foot, 65%-70% below replacement cost, with an 8% GAAP yield and fixed-rate debt below 3% through 2031. The acquisition is expected to add roughly $0.10 per share on a full-year run-rate basis.

Status: Closed
Sector: Commercial, Residential
Location: New York, United States of America
Updated: 22 Jul 2026
Source: The Globe and Mail

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Project Information

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The project “Park Avenue Plaza Acquisition” is an infrastructure initiative in the Commercial sector, located in New York, New York, United States. Taiyo aggregates data on it from The Globe and Mail.

Participants

Not available for this record.

Status

Original status	completed
Taiyo status	Closed
Taiyo last update	2026-07-22

Contact

Not available for this record.

Description

Description	Vornado purchased a 49% stake in a 1.2 million square foot, 99%-occupied Class A office building on Park Avenue. The building is rented 40% to 50% below market and was acquired at $950 per square foot, 65%-70% below replacement cost, with an 8% GAAP yield and fixed-rate debt below 3% through 2031. The acquisition is expected to add roughly $0.10 per share on a full-year run-rate basis.
Original sector	Real Estate
Budget

Location

Country	United States of America (USA)
State	New York
City	New York

Source

Source	The Globe and Mail
URL

More Details

Record type	Project
Sector	Commercial, Residential
Article published date	2026-05-08

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Park Avenue Plaza Acquisition

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