NEW YORK CITY—Whether measuring its office or retail leasing, and whether one looks at the local performance or results for other parts of the country, Vornado Realty Trust had a stellar second quarter, the company revealed in the reporting of its earnings.
“Business is absolutely terrific,” declared Steven Roth, Vornado chairman and CEO, Tuesday on the company's quarterly earnings call. “In New York we're enjoying robust demand from all tenants, led by financial service and creative class tenants in all of our submarkets, and at record rents.
“Ditto for our largest Manhattan retail street businesses,” he continued. “We did eight office deals in four buildings totaling 223,000 square feet at rents of $110 and a handful of Penn Plaza deals at over $70 per square foot.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
