NEW YORK CITY-Vornado Realty Trust reports it has agreed to sell a parcel adjacent to the MetroNorth Harlem station for $65 million.
The Paramus, NJ-based REIT had sought to build an office tower on the Harlem Park property at 1800 Park Ave. at 125th St. Unveiled in 2007 the plan called for a 21-story, 640,000-square-foot tower to be called Harlem Park.
Vornado in a statement said the sales deal with an unidentified buyer may also include brownfield credits. The transaction is expected to result in net proceeds of approximately $62 million. The company expects the deal to be completed in the second quarter of 2013. See story at Bloomberg News.
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