The building, seated on Park Avenue and stretching the entire block between 51 and 52 streets, is 100% leased. Darcy Stacom and William Shanahan of CB Richard Ellis represented the owner of 350 Park Ave.
Vornado declined to comment on the deal, and CBRE did not immediately return phone calls.
Recently, Vornado acquired 37 former Toys "R" Us stores for $171 million, as reported by GlobeSt.com. The company plans to acquire six additional stores by the end of 2007's first quarter.
The 350 Park Ave. deal comes just a day after Vornado announced its third quarter results. Net income applied to common shares rose to $0.76 per diluted share in the quarter that ended on Sept. 30, 2006. This is up from $0.19 per diluted share recorded after the third quarter 2005.
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