Vornado Moves Forward On West Side Site After Extell Feud

Law360, New York (October 16, 2013, 2:00 PM EDT) -- Vornado Realty Trust and Extell Development Co. have settled their feud over two lots on 57th Street in New York City, with Vornado finally tying up an assemblage of 220 Central Park South for $194 million, the real estate investment trust announced Tuesday.

Vornado said it had officially acquired land and air rights for 137,000 square feet at the 220 Central Park South site, allowing the REIT to begin development on a 920-foot luxury residential condominium tower covering 472,000 square feet. 

The deal signals the end...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.