The Real Deal New York

Vornado plunks down $142M for LIC office building

Eight-story property almost completely leased
November 25, 2014 11:04AM

Vornado Realty Trust is buying the Center Building, a 437,000-square-foot office building in Long Island City, for $142 million.

The eight-story building at 33-00 Northern Boulevard is about 98 percent leased, according to an announcement by the company. The purchase price includes an existing $62 million mortgage with a 4.43 percent interest rate.

The building last traded hands in December 2012, when a group of investors paid $84.5 million for the property after it hit the market earlier that year for $90 million. The property includes 62 parking spaces. A number of city agencies are leasing space at the building. — Claire Moses