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Vornado To Pay $542M for 350 Park Ave.

NEW YORK CITY-The REIT plans to close on the deal this quarter. The class A office building is currently 100% leased.

By Katie Hinderer | Updated on November 01, 2006

NEW YORK CITY-Vornado Realty Trust has agreed to acquire 350 Park Ave. for $542 million. The sale of the 538,000-sf class A office building is set to close before the year ends.

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.

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