WASHINGTON, DC-Vornado Realty Trust will secure complete ownership of an 11-story Class A office building in Washington, DC. The firm, which had a 2.5% minority stake at 1399 New York Ave. NW, will acquire the 130,000-square-foot building for $104 million.
The building, also called The Executive Tower, was developed by DRI Partners. The sales price of the property, being sold by New York-based Real Estate Capital Partners, breaks down to approximately $800 per square foot. For the full story, go to Washington Business Journal .
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