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NEW YORK CITY-Vornado Realty Trust has completed the assemblage for its 220 Central Park South residential development development site, buying land and air rights from Extell Development Co. for $194 million. The sale also marks the resolution of all legal disputes between the two companies, according to a statement from Extell.

“We are thankful that our differences with Vornado have been resolved amicably,” says Gary Barnett, president of Extell. “We wish them great success.” Extell is already developing its own luxury apartment tower nearby, One57, where buyers have paid more than $90 million for upper-floor duplexes, and the company intends to build another.

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