Vornado (VNO) Realty Trust announced that it has entered into an agreement to purchase the 623 Fifth Avenue office condominium, a 36-story, 382,500 rentable square foot building situated above the flagship Saks Fifth Avenue department store, for $218 million. Vornado expects to close the acquisition in September 2025 and complete the redevelopment for delivery to tenants in 2027.
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