As closings at 220 Central Park have started rolling in, Vornado Realty Trust knows exactly what it will be doing with the massive profits, estimated at $1 billion. “Big picture, our financial plan is to redeploy the proceeds of 220 CPS sales into the cap[ital] ex[penses] of Farley, Penn One, and Penn Two,” Vornado CEO Steve Roth said on the company’s fourth-quarter earnings call Tuesday morning. “Give or take, we expect to fund all of […]
source https://therealdeal.com/2019/02/12/what-vornado-plans-to-do-with-the-massive-profits-from-220-cps/
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