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
February 27, 2014 10:20AM

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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