From his perch onstage at the Pierre Hotel last Thursday, Bill Ackman looked down his nose on REITs.
“You can make more money on a single real estate deal than as a REIT,” he said at the 16th annual REIT symposium hosted by the N.Y.U. Schack Institute. Mr. Ackman, who made at least some of Read More
Skyscraper Dreams On a Walkup Budget
Steve Roth’s plan for what would be the city’s third tallest tower, across from Penn Station on the site of the current Hotel Pennsylvania, just got a boost, as Borough President Scott Stringer on Wednesday gave his conditional approval for the proposal.
The planned 1,200-foot skyscraper—which is theoretical in that it would not likely be Read More
It’s now been more than a decade since Steven Roth and his Vornado Realty Trust first won a bid to develop an office tower atop midtown’s Port Authority Bus Terminal.
Like many a large public/private project, the deal has been subject to the whims of the real estate market and, for the second time in Read More
Score one for the gritty Hotel Pennsylvania.
Major landlord Vornado Realty Trust was rebuffed by the local community board on Thursday night in its effort to clear the road for what would be the city’s third-tallest tower to rise in place of the Hotel Pennsylvania across from Madison Square Garden.
Manhattan’s Community Board 5 voted Read More
Vornado Chairman Steven Roth, being threatened with eminent domain in Boston over his remarks on blight, apparently has apologized to Boston Mayor Thomas Menino.
Mr. Roth told a Columbia audience earlier this month that he left the Bloomberg LP tower site in New York a blight for years, in part to gain public sector Read More
At the beginning of a panel entitled “The View From 10,000 Feet,” part of the N.Y.U. Schack Institute of Real Estate’s 15th Annual REIT Symposium on Thursday afternoon, the always outspoken Steve Roth had a question for moderator Robin Panovka.
“Is there press in the room?” asked Mr. Read More
The race to sell off a portion of the Freedom Tower-officially, One World Trade Center-has kicked into a new gear.
The Port Authority, the New York-New Jersey-controlled bureaucracy that is developing the tower and shopping around an ownership stake, late last month dropped two developers vying to take a piece of the 1,776-foot tower, according Read More
Boston Mayor Thomas Menino does not seem to be happy with Steve Roth.
In a letter dated Monday, Mr. Menino wrote to the Vornado Realty Trust chairman, threatening the use of eminent domain to seize the company’s Boston property and expressing outrage over remarks Mr. Roth made about blight and development last week during a talk at Read More
Without a doubt, one of the more intriguing, bull-headed, coarse-spoken figures on the New York City real estate scene is Steven Roth.
Chairman of giant REIT Vornado Realty Trust, he avoids the media—Vornado’s press strategy is to decline comment on most everything—and yet is tremendously candid and hyperbolic in the uncommon moment when he opts Read More
Just as the markets were starting to unwind in October 2007, real estate titan Steve Roth thought he’d hooked a giant fish. Merrill Lynch had been through a tortuous, hard-fought search for a firm to build its new world headquarters, and after pitting Mr. Roth and his Vornado Realty Trust against developer Larry Read More