The Real Deal New York

Vornado sells Long Island mall to KKR-led group

Deal follows Vornado's recent signing of hedge funds to Manhattan office building

Vornado Realty Trust sold Broadway Mall on Long Island to an investor group that included private equity bigwig KKR for $94 million.

KKR’s partners were Clifton Realty and Continuum Partners’ Peter Fair and Pacific Retail Capital Partners. Broker Andrew Merin of Cushman and Wakefield represented Vornado in the deal. The 1.1 million-square-foot mall at 358 North Broadway in Hicksville was last renovated in 1991. Tenants include Macy’s, Ikea and Target.

“This was a rare Long Island mall offering, and with its great demographics it attracted considerable interest,” Merin said in a statement provided to Bloomberg News.

Last month, Vornado and SL Green Realty signed two hedge funds to their jointly-owned office building at 280 Park Avenue, as The Real Deal reported. [Bloomberg News]Mark Maurer

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