Market Overview

Vornado and the Kushner Companies Announce the Recapitalization of 666 Fifth Avenue

Vornado Realty Trust (NYSE: VNO) announced today that it has formed a joint venture with an affiliate of the Kushner Companies to recapitalize the office portion of 666 Fifth Avenue, a 39-story, 1.450 million square foot Class A office building located on the full block front of Fifth Avenue between 52nd and 53rd Street. Vornado has acquired a 49.5% interest in the property from the Kushner Companies, the current owner.

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