- Vornado Realty Trust (NYSE:VNO) completes its previously announced sale of its 25% stake in 330 Madison Avenue to its partner at a $900M valuation.
- Net proceed to Vornado, after deducting existing $500M mortgage loan, is ~$100M.
- Estimates gain of $159M to be recognized in Q3.
- Tax gain estimated at $138M.
Vornado estimates $159M gain on 330 Madison Ave. sale
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Symbol | Last Price | % Chg |
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