Vornado Realty Trust barely made a peep when it bought up a pair of Duell Management properties on Madison Avenue late last year for $60 million.
Duell sold the Madison Avenue building, a retail property that’s home to trendy eatery Ristorante Morini, for $40 million, property records show. Duell also sold the 86th Street property, a five-story rental apartment building, for $20 million.
Vornado did not comment to the Post, which speculated that the REIT could hold the properties while buying up air rights.
Duell has been selling a number of properties recently. Late last year the Midtown-based firm sold a trio of properties in Greenwich Village and the Upper East Side for $76 million. [NY Post, 2nd item] – Rich Bockmann