Vornado Realty Trust Sells Office Building in Queens for $173M
NEW YORK CITY — Vornado Realty Trust (NYSE: VNO) has sold The Center Building, a 470,000-square-foot office building located in the Long Island City neighborhood of Queens, for $173 million. The eight-story building, which includes ground-floor retail space, was originally constructed in 1914 as an assembly plant and service center for Ford’s Model T vehicle. Today, the building is home to five city agencies, as well as the Metropolitan Transportation Authority. Locally based development and investment firm 60 Guilders purchased the asset for an undisclosed price. Eastdil Secured provided financial advisory services to Vornado.