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Vornado sells 2 buildings in Manhattan, NY's Upper East Side for $71M

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Vornado sells 2 buildings in Manhattan, NY's Upper East Side for $71M

Vornado Realty Trust sold two adjacent vacant buildings totaling 22,000 square feet in the Upper East Side neighborhood of Manhattan, N.Y., to Naftali Group LLC for $71 million, The Real Deal reported, citing city property records.

The properties are the retail building at 1167 Madison Ave. and the eight-unit apartment building at 50 E. 86th St.

The acquisition was financed by a $41.6 million loan from California-based CIT Bank, the publication added.

A representative for Vornado did not immediately respond to a request for comment by The Real Deal.