Vornado To Sell Four Manhattan Retail Properties And The Armory Show For $124.4M
Portfolio Pulse from Happy Mohamed
Vornado Realty Trust (NYSE:VNO) has announced plans to sell four Manhattan retail properties and The Armory Show for a combined sales price of $124.4 million. The sale is expected to close in the third quarter and will result in an approximately $20 million gain.
July 27, 2023 | 9:19 pm
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POSITIVE IMPACT
Vornado Realty Trust's sale of four properties and The Armory Show is expected to result in a $20 million gain. This could potentially boost the company's Q3 earnings.
The sale of these assets will result in a significant gain for Vornado Realty Trust, which could positively impact its Q3 earnings. This could potentially lead to a positive reaction from the market, driving the stock price up in the short term.
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IMPORTANCE 75
RELEVANCE 100