Financial PositionThe sale of a portion of the U.S. flagship store at 666 Fifth Avenue resulted in net proceeds of $342mn, enhancing the company's financial position.
Ground LeaseVNO received a favorable ground lease re-set at PENN 1, resulting in an $11M annual savings and a positive impact on future financial performance.
Leasing PerformanceThe company leased 709k SF of NY office space, showing a strong leasing performance compared to the previous quarter.