Thursday, September 22, 2011

Vornado picks up Tribeca building in auction for $8.2M

Vornado Realty Trust bought a discounted five-story Tribeca building in an auction yesterday for $8.2 million, Crain's reported, outbidding at least five other interested parties. Bidding for the 14,545-square-foot property at 334 Canal Street, near Lispenard Street, started at $7 million, after lender CNBS Trust took control of the property from Mymom Realty, which purchased it for $11 million four years ago.

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