Vornado buys 1290 Sixth Avenue

Vornado Realty Trust has purchased a 70 percent majority stake in 1290 Avenue of the Americas. Vornado paid $775 per square foot for the share in the 43-story office building, which puts the its value at $1.55 billion. Seller Donald Trump and his partnership, Hudson Waterfront Associates, paid $1.2 billion for the 2-million-square-foot property last year. more [NYO]