NEW YORK CITY-Vornado Realty Trust has received a fund worth between $500 million and $700 million from a Chinese investor to construct its long-proposed office building above the Port Authority Bus Terminal.
The Port Authority of New York & New Jersey chose Vornado and Lawrence Ruben Co. to build the tower measuring 1.3 million square feet over the terminal located on Eighth Avenue. If the work does not start soon, the two companies may lose the contract to construct the tower.For the full story, go to Crain's New York Business.
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