Vornado Realty Trust disclosed in a regulatory filing last week that its writing down the value of its portfolio by $600M.

The lion’s share of the impairment charge—about $480M—is related to another drop in the valuation of the REIT’s ownership stake in a seven-property portfolio of Times Square and Fifth Avenue office and retail properties, including a Broadway theater, encompassing a total of nearly 850K SF.

Jack Rogers



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