Episode Details

Vornado Realty Trust is locking in its full 36% stake in the colossal 350 Park Avenue office tower, shutting down any talk of selling — calling it “incredibly short-sighted.” With Ken Griffin holding 60% and the Rudin family at 4%, the project’s $3.3B construction loan and $900M land valuation signal serious confidence. Demolition’s already underway, a new investor eyed for 25%, and tenants are already circling — projected rents: $350/sq ft. After earlier drama, this move seals the deal, with closing expected this September.

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