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Vornado Realty Trust's (VNO) purchase of 59% of a Manhattan residential complex values the...

Vornado Realty Trust's (VNO) purchase of 59% of a Manhattan residential complex values the property at $844.8M and continues the firm's trend of moving assets to its stronger markets and selling noncore properties. The company recognized a $100M Q4 net gain as part of its latest transaction.
Comments (1)
  • Ray Lopez
    , contributor
    Comments (1508) | Send Message
     
    Moving into stronger markets is a good move--until the next recession comes. Then these markets will fall. But if you're going to be in real estate, it pays to be in big cities like NYC, DC, SF, LA, CHI, and London, Tokyo overseas. Still, I don't think these are good investments intermediate term (5-10 years).
    23 Dec 2012, 06:16 AM Reply Like
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