$40m Vornado purchase.A 62,000 s/f retail building near Union Square at 25 W. 14th St. has been sold by a joint venture of Mark Holdings LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Apollo Real Estate Advisors, L.P. to an affiliate of Vornado Realty Trust Vornado Realty Trust (NYSE: VNO) is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's. for $40 million--more than twice what the investors originally paid in 2000. The building houses Clay, a gym and spa, as well as Guitar Center, which utilizes the two-story building's basement This article is about the section of a building. For the foundation, see Basement rock. A basement is one or more floors of a building that are either completely or partially below the ground floor. Slab-on-grade buildings do not have basements. space as well. Vornado will be offering an additional 8,000 s/f for lease. Mark Holdings and Apollo paid a mere $13 million for what was then a run-down run·down n. 1. A point-by-point summary. 2. Baseball A play in which a runner is trapped between bases and is pursued by fielders attempting to make the tag. adj. also run-down 1. a. building in April 2000. "The building was an empty gutted gut n. 1. a. The alimentary canal or a portion thereof, especially the intestine or stomach. b. The embryonic digestive tube, consisting of the foregut, the midgut, and the hindgut. 2. shell that we renovated and re-tenanted with Clay, a first class gym and spa, and with Guitar Center, the country's leading retailer of musical equipment and accessories," said David Schore, president of Mark Holdings. Both tenants will remain in place. "They're under long-term leases," Schore said. A Vornado spokeswoman did not return calls seeking comment. The transaction closed last Monday, after a contract was signed in December, Schore said. The sale was typical of Mark Holding's investment strategy to buy old buildings and fix them up, although Schore said the company also purchases properties in good condition. "We buy more stable properties as well," Schore said. The building, built in the 1920s, had been unoccupied for four to five years prior to its 2000 purchase, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Schore. |
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