Vornado buys midtown Manhattan office property for new development

Purchase comes as leasing last year rose to its highest level in years

Vornado Realty Trust plans to tear down the 19-story office building at 3 E. 54th St. (CoStar)

CoStar News

January 8, 2026 | 9:18 P.M.

Vornado Realty Trust has bought an office property off midtown Manhattan’s glitzy Fifth Avenue with plans to tear it down for new development.

This news story is available exclusively to CoStar subscribers.

Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.

This news story is available exclusively to CoStar subscribers.

Ready to Learn More?

Already A Subscriber? Sign In