Vornado’s Roth sees “choppy” market, chides Penn skeptics – Robert Khodadadian

Vornado Realty Trust’s second-quarter earnings beat expectations, but the firm is facing “choppy conditions” and analyst anxiety over its massive Penn District development. Its funds from operations per share, a key earnings metric used by real estate investment trusts, were $.83 on an as-adjusted basis, above the $.79 Wall Street consensus estimates. Revenue hit $453 million, up from the $379 million during the same quarter last year. Vornado executives had originally projected double-digit growth in

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, Manhattan, Manhattan Office Market, penn station, Steven Roth, Vornado Realty Trust The Real Deal New York Read More