Vornado Realty Trust (NYSE: VNO) is a publicly traded real estate investment trust that operates as an owner, manager, and developer of office and retail properties with a concentrated portfolio in New York City. The company, which established its current REIT structure in 1993, owns 49 Manhattan properties totaling 19.8 million square feet of office space and 2.0 million square feet of street retail. The REIT has developed THE PENN DISTRICT as a campus-like development consisting of 9 million square feet across over a dozen buildings surrounding Pennsylvania Station. Vornado also maintains positions outside Manhattan with THE MART in Chicago (3.7 million square feet) and a 70% controlling interest in 555 California Street in San Francisco (1.8 million square feet). The company holds a 32.4% interest in Alexander's and operates BMS, a wholly owned subsidiary providing cleaning and security services. Manhattan forms the core of Vornado's operations, with the company's portfolio comprising office properties in Midtown, Plaza District, Grand Central, Midtown South, Columbus Circle, and Downtown submarkets. The REIT's street retail portfolio includes over 2.4 million square feet in high-foot-traffic corridors, positioning it as Manhattan's largest owner and manager of street retail. Top tenants include Meta Platforms (4.9% of annualized escalated rents), Omnicom (3.6%), and NYU (3.3%).