Posted Feb 13, 2018, 4:26 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,868
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https://therealdeal.com/2018/02/12/v...-in-666-fifth/
Vornado officially plans to sell its stake in 666 Fifth
CEO Steve Roth hinted that this was coming in April shareholder call
By Will Parker
February 12, 2018
Quote:
Vornado Realty Trust plans to sell its 49.5 percent stake in Kushner Companies’ Midtown office tower at 666 Fifth Avenue, according to an annual performance report it filed with the U.S. Securities and Exchange Commission.
Kushner Companies has eyed a grand renovation and redevelopment of 666 Fifth into a 1,400-foot tall luxury condo, hotel and retail center, but has struggled to find the necessary financing. Vornado was well known to not be keen on the idea, with Roth saying just last fall that it was “likely not feasible.”
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