Vornado Realty Trust has acquired the low-rise retail building at 144-150 West 34th Street, in Midtown South, for $355 million from a partnership between Starwood Capital Group and Crown Acquisitions. The three-story, 78,000 square-foot building is leased by Old Navy; their lease expires in five years, and the property boasts 300,000 square feet of commercial building rights if redeveloped. [The Real Deal]
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