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This statistic highlights Vornado Realty Trust’s Revenue Breakdown Worldwide, split between New York and Other countries, reported quarterly from Q1 2016 onwards.
Vornado is a REIT investing in US commercial properties, focusing on office buildings, stores, and mixed-use projects. They buy, develop, and redevelop properties of various sizes, including office, retail, shopping, and residential.
|Category||2022 Q4||2023 Q1||Revenue Mix by Segment for 2023 Q1|
(All figures in USD millions, except percentages)
Vornado’s revenue is primarily derived from its New York City real estate portfolio, accounting for more than 80% of its total revenue in 2023 Q1. This includes iconic landmarks like the Empire State Building, Rockefeller Center, and the World Trade Center. It also has a strong presence in US markets like Chicago, Washington, D.C., Boston, and other international countries accounting for around 20% of the total revenue.
This segment includes places such as Manhattan, Queens, Staten Island, Brooklyn, Bronx, etc. Manhattan is the largest market for Vornado, accounting for more than 90% of the company’s revenue from this segment. In Manhattan, the company owns and manages several iconic landmarks, such as Rockefeller Center, the Grand Central Hotel, and the Plaza Hotel. Brooklyn is the second largest market for the company, accounting for approximately 3% of total revenue. Most of the company’s properties are in Downtown, Williamsburg, and Long Island City.
This segment includes places other than New York such as Illinois, California, Texas, Florida, Georgia, Maryland, Pennsylvania, etc. The segment exhibited a negative growth of 1.76% year-over-year in the first quarter of 2023. However, the revenue generated from this segment varies a lot depending on various factors. Most of the company’s properties are located in major cities, including Chicago, Los Angeles, and Houston, as well as Atlanta, Baltimore, and Philadelphia.
About Vornado Realty Trust
Vornado Realty Trust is a United States-based REIT specializing in commercial real estate, including office and retail properties. Established in 1982, the company has a portfolio of properties in highly sought-after markets, with a primary focus on New York City, where it owns and manages some of the city’s most iconic buildings, including One Penn Plaza and 1290 Avenue, as well as the Hotel Pennsylvania. Vornado Realty Trust is a prominent developer and landlord of office and retail properties in Manhattan, with a primary focus on the most sought-after submarkets in the city, such as Midtown and Midtown South. Its portfolio includes properties that are home to prominent global corporations, such as Time Warner Inc., Viacom Inc., and CBS Inc. Vornado is a publicly traded company, and its stock is listed on the New York Stock Exchange under the ticker symbol “VNO”.
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