Vornado to acquire 623 Fifth Avenue office condominium for $218m.

Vornado Realty Trust, an American REIT engaged in the ownership and operation of office, retail, and showroom properties, agreed to acquire 623 Fifth Avenue office condominium for $218m. Vornado intends to completely reposition and redevelop the condominium into a premier, best-in-class, Class A boutique office building. The fully transformed 623 Fifth Avenue building will complement Vornado’s nearby Plaza District and Park Avenue holdings of 280 Park Avenue, 350 Park Avenue, 595 Madison Avenue, 640 Fifth Avenue, 689 Fifth Avenue and 1290 Avenue of the Americas.