He also said that any agreement to move Madison Square Garden ablock over within the Farley Post Office/Moynihan Stationredevelopment is "a long way from being done." Macnow noted thatthe process involved for the firm's joint venture effort with theRelated Cos. is "protracted" due to the regulatory approvals andthat Vornado does not anticipate any FFO until after 2007, at theearliest.
Macnow also said the firm is exploring opportunities in India."We placed $16 million in a $100-million fund. That's almost pettycash for Vornado. We're testing the waters. We're very impressed,but far from committed to India."
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