Seven-Story Otis Elevator Building Slated For Office Conversion, 260 11th Avenue

260 11th AvenuePresent-day 260 11th Avenue, photo via Wikipedia Commons

Vornado Realty Trust has purchased the seven-story Otis Elevator Building at 260 11th Avenue, in West Chelsea, for roughly $80 million in stock units, according to Bloomberg Business, and is leasing the land under the building for 99 years. Vornado is planning to convert the building into office space; an expansion is also possible as the building has available development rights.

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