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Vornado Realty Trust: What You Need to Know

Take a deep dive into this New York City-focused diversified REIT.


[Updated: Oct 07, 2021 ] Dec 04, 2020 by Matthew DiLallo

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Property Type NOI in 2019 Percentage of Total NOI
Office $724.5 million 57.5%
Retail $273.2 million 21.7%
Residential $23.4 million 1.9%
Alexander's $44.3 million 3.5%
Hotel Pennsylvania $7.4 million 0.6%
theMART $102.1 million 8.1%
555 California Street $59.7 million 4.7%
Other investments $25.2 million 2.0%

Data source: Vornado Realty Trust

In light of the evolving health, social, economic, and business environment, governmental regulation or mandates, and business disruptions that have occurred and may continue to occur, the impact of the COVID-19 pandemic on our financial condition and operating results remains highly uncertain, but the impact could be material. The impact on us includes lower rental income and potentially lower occupancy levels at our properties which will result in less cash flow available for operating costs, to pay our indebtedness, and for distribution to our shareholders. … The value of our real estate assets may continue to decline, which may result in additional non-cash impairment charges in future periods, and that impact could be material.
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