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Stock Market & Financial Investment News

News Breaks
June 26, 2014
08:57 EDTVNOVornado increases ownership in One Park Avenue to 55%
Vornado has invested an additional $22.7M to increase its ownership interest in One Park Avenue to 55% from 49.7% through a joint venture with the Canada Pension Plan Investment Board who will increase its existing ownership interest to 45%. The estimated value of the property is $560M. The property is encumbered by a $250M mortgage. One Park Avenue is a 20-story, 941,000 square foot office building located on the full eastern block front of Park Avenue between 32nd and 33rd Streets in Midtown South.
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