Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.
Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station. Its properties serve office tenants, retailers, restaurants and other commercial occupants, and the company provides property management, leasing and development services in connection with its real estate portfolio.
The company traces its roots to Interstate Properties, a real estate business established in the early 1960s, and adopted the Vornado Realty Trust name after a major corporate restructuring in the 1980s. Vornado has also owned and operated commercial real estate in other major U.S. markets, including the Washington, D.C., area, although its strategy has become increasingly concentrated on New York City.
Steven Roth is Vornado’s chairman and chief executive officer. The company is organized as a real estate investment trust and generally seeks to generate revenue through property rentals, leasing activity, development and the long-term ownership of commercial real estate.
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