# Vornado Realty Trust

> Vornado Realty Trust is a publicly traded landlord, developer and property operator focused on Manhattan offices and street retail, with additional holdings including THE MART in Chicago and a controlling stake in 555 California Street in San Francisco. Its Penn District strategy combines renovated offices, tenant amenities, public-space improvements and signage around Penn Station.

- **Founded:** 1982
- **Headquarters:** New York, United States
- **Founders:** Steven Roth (Architect of the modern real estate business; chairman and CEO), Sidney Hubschman (Co-founder of Two Guys, the retail predecessor, in 1947), Herbert Hubschman (Co-founder of Two Guys, the retail predecessor, in 1947)
- **Products:** Office leasing and operations, Street retail leasing, PENN 2 redevelopment, Plaza33, Signage
- **Notable:** PENN 2 reached 90% leased in June 2026., Permanent Plaza33 opened in June 2024., PENN 2 redevelopment received a 2025 AISC IDEAS² award.

## Products & services

- **Office leasing and operations** — Manhattan offices, including the PENN District, plus major properties in Chicago and San Francisco.
- **Street retail leasing** — Retail space in Manhattan shopping corridors, including Fifth Avenue, Madison Avenue and Times Square.
- **PENN 2 redevelopment** — Repositioned 1968 office tower above Penn Station with a new facade, expanded base floors and shared amenities.
- **Plaza33** — Permanent pedestrian plaza delivered with NYC DOT after a seasonal pilot.
- **Signage** — Advertising signage on owned real estate in Times Square and the PENN District.
- **Building Maintenance Services** — Wholly owned subsidiary providing cleaning and security services to Vornado properties and third parties.
- **THE MART** — Chicago property combining design showrooms, office tenants and trade-show activity.
- **350 Park Avenue joint venture** — Office tower under construction with a 1.05 million-square-foot Citadel anchor lease; Vornado owns 36% of the venture as of October 21, 2026.

## Achievements

- PENN 2 reached 90% leased in June 2026.
- Permanent Plaza33 opened in June 2024.
- PENN 2 redevelopment received a 2025 AISC IDEAS² award.
- 2025 sustainability report states 100% LEED certification across the in-service portfolio.

## Latest updates

- **2026-10** — Closed 350 Park Avenue joint venture, 1.05 million-square-foot Citadel anchor lease and $3.3 billion construction loan on October 21.
- **2026-08** — Second-quarter results reported $0.67 adjusted FFO per diluted share; New York office occupancy was 92.2% at June 30.
- **2026-06** — PENN 2 reached 90% leased after Veeva and Altana signed full-floor leases.

## Links

- Website: https://www.vno.com/
- LinkedIn: https://www.linkedin.com/company/vornado-realty-trust

---

Profile page: https://yespress.io/vornado-realty-trust
Published by YesPress — https://yespress.io
Last updated: 2026-10-24