Vornado Realty Trust has acquired 3 East 54th Street, a prime development site in Manhattan’s Plaza District, for $141 million. The property, located between Fifth and Madison Avenues and adjacent to the St. Regis Hotel, encompasses 18,400 square feet of land and is zoned for approximately 232,500 buildable square feet as-of-right. Vornado, having previously acquired the mortgage on the property with an accrued loan balance of $107 million, credited this amount towards the purchase price. The company plans to promptly demolish the existing buildings on the site, further expanding its significant holdings in the Plaza District and Park Avenue areas.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vornado Realty Trust published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9621852-en) on January 07, 2026, and is solely responsible for the information contained therein.