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Organization and Business
12 Months Ended
Dec. 31, 2013
Organization and Business [Abstract]  
Organization And Business

1. Organization and Business

 

Vornado Realty Trust (“Vornado”) is a fully-integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P., a Delaware limited partnership (the “Operating Partnership”). Accordingly, Vornado's cash flow and ability to pay dividends to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of, and owned approximately 94.0% of the common limited partnership interest in the Operating Partnership at December 31, 2013. All references to “we,” “us,” “our,” the “Company” and “Vornado” refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.

       

As of December 31, 2013, we own all or portions of:

 

New York:

 

  • 19.8 million square feet of Manhattan office space in 31 properties and four residential properties containing 1,653 units;

     

  • 2.4 million square feet of Manhattan street retail space in 55 properties;

     

  • The 1,700 room Hotel Pennsylvania located on Seventh Avenue at 33rd Street in the heart of the Penn Plaza district;

     

  • A 32.4% interest in Alexander's, Inc. (NYSE: ALX), which owns six properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.3 million square foot Bloomberg, L.P. headquarters building;

     

    Washington, DC:

     

  • 16.2 million square feet of office space in 59 properties and seven residential properties containing 2,405 units;

     

    Retail Properties:

     

  • 14.9 million square feet of retail space in 106 strip shopping centers and single tenant retail assets, primarily in the northeast states and California;

     

  • 5.3 million square feet of retail space in six regional malls, located in the northeast / mid-Atlantic states and Puerto Rico;

     

     

    Other Real Estate and Related Investments:

     

  • The 3.6 million square foot Merchandise Mart in Chicago, whose largest tenant is Motorola Mobility, owned by Google, which leases 608,000 square feet;

     

  • A 70% controlling interest in 555 California Street, a three-building office complex in San Francisco's financial district aggregating 1.8 million square feet, known as the Bank of America Center;

     

  • A 25.0% interest in Vornado Capital Partners, our real estate fund. We are the general partner and investment manager of the fund;

     

  • A 32.6% interest in Toys “R” Us, Inc.; and

     

  • Other real estate and related investments and mortgage and mezzanine loans on real estate.