Vornado Realty Trust is exercising its option to buy a 36% stake in New York City's high-profile 350 Park Ave. office development as demolition advances and a $3.3 billion construction loan is "ready to go," Chief Executive Steven Roth said.
Vornado takes 36% stake in high-profile New York tower project
Construction loan of $3.3 billion is ‘ready to go,’ CEO says
By Andria Cheng
CoStar NewsAugust 4, 2026 | 8:59 P.M.
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IN THIS ARTICLE
- Properties
- Park Avenue Plaza
55 52nd St, New York, NY
- New Development
350 Park Ave, New York, NY
- Companies
- Vornado Realty Trust
Real Estate
- Rudin
Real Estate
- Citadel
Finance and Insurance
- Contacts
- Steven Roth
Chairman of the Board and Chief Executive Officer, Vornado Realty Trust