(Save the date: RealShare New York comes to the Grand Hyatt,New York, NY, October 9.)

NEW YORK CITY-Vornado Realty Trust kept theFourth of July celebration rolling into Thursday, setting off afireworks display of big-ticket acquisitions and dispositions. TheREIT is paying $707 million for the 666 Fifth Ave. retail spacecurrently controlled by a partnership of the KushnerCos., Crown Acquisitions and theCarlyle Group, while selling all but one of itsremaining Mart segment properties for a total of $228 million.Separately, Vornado said late Thursday that it’s also selling aWashington, DC office building and buying a retail property inMiami Beach.

The 114,000 square feet of 666 Fifth retail, leased toUniqlo, Hollister andSwatch, expands on Vornado’s existing2.2-million-square-foot portfolio of Manhattan street retail. Theoffice tower’s retail space also includes the 38,750-square-footformer NBA store, which Spanish retailer Inditex bought in March 2011 for arecord-setting $324 million. The Inditex space was not part ofThursday’s acquisition by Vornado, which the REIT expects to closein the fourth quarter.