A fully integrated real estate investment trust that owns and operates office, retail and showroom properties with large concentrations of office and retail properties in the New York City metropolitan area and in the Washington, DC and Northern Virginia.
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Fool UK
Recs
I said short them at 70 last year they went to the 20's
I reco shorting them now.
Just take a look at Tishman Speyer and their imminent default of a 6 billion dollar deal.
Incredible Cash burn.
VNO was just paying divis in stock..diluting
Manhattan real estate is about to have the worst 2 years in it's history.
I work in Manhattan real estate and I still see the same vacant Vornado spaces I saw 2 years ago.
They own 33% of Toy'r R US which is bankrupt.
This will end badly
Yeah, commercial real estate trusts are at the brink. What's crazy is everyone knows it and the accounting standards allow them to act like "no problem, we'll pay dividends anyway." And people are buying them thinking, "as long as no one acknowledges the asset devaluation, we will just breeze along". Wow. The Madoff ponzi scheme is nothing close to the coming REIT debacle.
Hey guys, what about commercial real estate rents starting to show signs of stabilization?