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Vornado seeks retail buys

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Vornado Realty Trust has $1.4 billion of cash on its balance sheet and is looking for retail properties to buy, its executives said at a presentation to investors yesterday. “What we like more than anything else is New York City retail,” Vornado CEO Steven Roth said. “We think we’re better at it than anyone else.” But the company says it has found few attractive opportunities so far.