666 Fifth Ave. 666 FifthAve.

NEW YORK CITY—Vornado Realty Trust reports it has sold its 45.4%equity interest in a portfolio of retail assets on Upper FifthAvenue and Times Square to a group of institutional investors ledby Crown Acquisitions Inc. in a deal that values the portfolio at$5.556 billion.

In connection with the deal, Vornado also reports that HaimChera, 50, has left the family-owned Crown Acquisitions to joinVornado as its EVP- head of retail.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.