Schedule III Real Estate and Accumulated Depreciation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | COLUMN A | COLUMN B | | COLUMN C | | COLUMN D | | COLUMN E | | COLUMN F | COLUMN G | COLUMN H | COLUMN I | | Encumbrances(1) | | Initial cost to company | | Costs capitalized subsequent to acquisition | | Gross amount at which carried at close of period | | Accumulated depreciation and amortization | Date of construction(3) | Date acquired | Life on which depreciation in latest income statement is computed | Land | | Buildings and improvements | Land | | Buildings and improvements | | Total(2) | New York | | | | | | | | | | | | | | | | | | | Manhattan | | | | | | | | | | | | | | | | | | | 1290 Avenue of the Americas | $ | 950,000 | | | $ | 518,244 | | | $ | 926,992 | | | $ | 257,295 | | | $ | 518,244 | | | $ | 1,184,287 | | | $ | 1,702,531 | | | $ | 495,262 | | 1963 | 2007 | (4) | One Park Avenue | 525,000 | | | 197,057 | | | 369,016 | | | 15,684 | | | 197,057 | | | 384,700 | | | 581,757 | | | 25,714 | | 1926 | 2021 | (4) | 350 Park Avenue | 400,000 | | | 265,889 | | | 363,381 | | | 108,646 | | | 306,034 | | | 431,882 | | | 737,916 | | | 181,322 | | 1960 | 2006 | (4) | PENN 1 | — | | | — | | | 412,169 | | | 914,769 | | | — | | | 1,326,938 | | | 1,326,938 | | | 435,128 | | 1972 | 1998 | (4) | 100 West 33rd Street | 480,000 | | | 331,371 | | | 361,443 | | | 78,189 | | | 331,371 | | | 439,632 | | | 771,003 | | | 186,718 | | 1911/2009 | 2007 | (4) | 150 West 34th Street | 75,000 | | | 119,657 | | | 268,509 | | | — | | | 119,657 | | | 268,509 | | | 388,166 | | | 57,618 | | 1900 | 2015 | (4) | PENN 2 | 575,000 | | (5) | 53,615 | | | 164,903 | | | 845,098 | | | 52,689 | | | 1,010,927 | | | 1,063,616 | | | 109,183 | | 1968 | 1997 | (4) | 90 Park Avenue | — | | | 8,000 | | | 175,890 | | | 200,721 | | | 8,000 | | | 376,611 | | | 384,611 | | | 208,034 | | 1964 | 1997 | (4) | 770 Broadway | 700,000 | | | 52,898 | | | 95,686 | | | 198,096 | | | 52,898 | | | 293,782 | | | 346,680 | | | 146,826 | | 1907 | 1998 | (4) | 888 Seventh Avenue | 259,800 | | | — | | | 117,269 | | | 180,130 | | | — | | | 297,399 | | | 297,399 | | | 168,398 | | 1980 | 1998 | (4) | PENN 11 | 500,000 | | | 40,333 | | | 85,259 | | | 142,088 | | | 40,333 | | | 227,347 | | | 267,680 | | | 112,615 | | 1923 | 1997 | (4) | 909 Third Avenue | 350,000 | | | — | | | 120,723 | | | 128,753 | | | — | | | 249,476 | | | 249,476 | | | 143,228 | | 1969 | 1999 | (4) | 150 East 58th Street | — | | | 39,303 | | | 80,216 | | | 65,710 | | | 39,303 | | | 145,926 | | | 185,229 | | | 78,336 | | 1969 | 1998 | (4) | 595 Madison Avenue | — | | | 62,731 | | | 62,888 | | | 82,600 | | | 62,731 | | | 145,488 | | | 208,219 | | | 64,983 | | 1968 | 1999 | (4) | 330 West 34th Street | — | | | — | | | 8,599 | | | 188,073 | | | — | | | 196,672 | | | 196,672 | | | 68,953 | | 1925 | 1998 | (4) | 715 Lexington Avenue | — | | | — | | | 26,903 | | | 20,828 | | | 30,086 | | | 17,645 | | | 47,731 | | | 2,918 | | 1923 | 2001 | (4) | 4 Union Square South | 120,000 | | | 24,079 | | | 55,220 | | | 14,329 | | | 24,079 | | | 69,549 | | | 93,628 | | | 30,512 | | 1965/2004 | 1993 | (4) | The Farley Building | — | | | — | | | 476,235 | | | 956,812 | | | — | | | 1,433,047 | | | 1,433,047 | | | 106,076 | | 1912 | 2018 | (4) | 260 Eleventh Avenue | — | | | — | | | 80,482 | | | 8,201 | | | — | | | 88,683 | | | 88,683 | | | 18,343 | | 1911 | 2015 | (4) | 606 Broadway | 74,119 | | | 45,406 | | | 8,993 | | | 486 | | | 23,930 | | | 30,955 | | | 54,885 | | | 1,696 | | | 2016 | (4) | 435 Seventh Avenue | 95,696 | | | 19,893 | | | 19,091 | | | 2,032 | | | 19,893 | | | 21,123 | | | 41,016 | | | 12,659 | | 2002 | 1997 | (4) | 131-135 West 33rd Street | — | | | 8,315 | | | 21,312 | | | 477 | | | 8,315 | | | 21,789 | | | 30,104 | | | 4,478 | | | 2016 | (4) | 304 - 306 Canal Street | — | | | 3,511 | | | 12,905 | | | (7,629) | | | 1,771 | | | 7,016 | | | 8,787 | | | 539 | | 1910 | 2014 | (4) | 1131 Third Avenue | — | | | 7,844 | | | 7,844 | | | 5,683 | | | 7,844 | | | 13,527 | | | 21,371 | | | 3,886 | | | 1997 | (4) | 431 Seventh Avenue | — | | | 16,700 | | | 2,751 | | | 300 | | | 16,700 | | | 3,051 | | | 19,751 | | | 1,157 | | | 2007 | (4) | 138-142 West 32nd Street | — | | | 9,252 | | | 9,936 | | | 2,132 | | | 9,252 | | | 12,068 | | | 21,320 | | | 2,611 | | 1920 | 2015 | (4) | 334 Canal Street | — | | | 1,693 | | | 6,507 | | | 1,304 | | | 753 | | | 8,751 | | | 9,504 | | | 614 | | | 2011 | (4) | 966 Third Avenue | — | | | 8,869 | | | 3,631 | | | — | | | 8,869 | | | 3,631 | | | 12,500 | | | 938 | | | 2013 | (4) | 137 West 33rd Street | — | | | 6,398 | | | 1,550 | | | — | | | 6,398 | | | 1,550 | | | 7,948 | | | 339 | | 1932 | 2015 | (4) | 825 Seventh Avenue | — | | | 1,483 | | | 697 | | | 3,969 | | | 1,483 | | | 4,666 | | | 6,149 | | | 1,299 | | | 1997 | (4) | 537 West 26th Street | — | | | 10,370 | | | 17,632 | | | 20,000 | | | 26,631 | | | 21,371 | | | 48,002 | | | 4,396 | | | 2018 | (4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | COLUMN A | COLUMN B | | COLUMN C | | COLUMN D | | COLUMN E | | COLUMN F | COLUMN G | COLUMN H | COLUMN I | | Encumbrances(1) | | Initial cost to company | | Costs capitalized subsequent to acquisition | | Gross amount at which carried at close of period | | Accumulated depreciation and amortization | Date of construction(3) | Date acquired | Life on which depreciation in latest income statement is computed | Land | | Buildings and improvements | Land | | Buildings and improvements | | Total(2) | New York - continued | | | | | | | | | | | | | | | | | | | Manhattan - continued | | | | | | | | | | | | | | | | | | | 339 Greenwich Street | $ | — | | | $ | 2,622 | | | $ | 12,333 | | | $ | (10,018) | | | $ | 866 | | | $ | 4,071 | | | $ | 4,937 | | | $ | 368 | | | 2017 | (4) | Hotel Pennsylvania | — | | | 29,903 | | | 121,712 | | | 163,985 | | | 29,903 | | | 285,697 | | | 315,600 | | | — | | 1919 | 1997 | (4) | Other (Including Signage) | — | | | 140,477 | | | 31,892 | | | 56,012 | | | 108,589 | | | 119,792 | | | 228,381 | | | 32,781 | | | | (4) | Total Manhattan | 5,104,615 | | | 2,025,913 | | | 4,530,569 | | | 4,644,755 | | | 2,053,679 | | | 9,147,558 | | | 11,201,237 | | | 2,707,928 | | | | | Other Properties | | | | | | | | | | | | | | | | | | | Paramus, New Jersey | — | | | — | | | — | | | 20,408 | | | 1,033 | | | 19,375 | | | 20,408 | | | 14,819 | | 1967 | 1987 | (4) | Total Other Properties | — | | | — | | | — | | | 20,408 | | | 1,033 | | | 19,375 | | | 20,408 | | | 14,819 | | | | | | | | | | | | | | | | | | | | | | | | Total New York | 5,104,615 | | | 2,025,913 | | | 4,530,569 | | | 4,665,163 | | | 2,054,712 | | | 9,166,933 | | | 11,221,645 | | | 2,722,747 | | | | | Other | | | | | | | | | | | | | | | | | | | THE MART | | | | | | | | | | | | | | | | | | | THE MART, Illinois | $ | — | | | $ | 64,528 | | | $ | 319,146 | | | $ | 475,435 | | | $ | 64,535 | | | $ | 794,574 | | | $ | 859,109 | | | $ | 406,292 | | 1930 | 1998 | (4) | 527 West Kinzie, Illinois | — | | | 5,166 | | | — | | | 317 | | | 5,166 | | | 317 | | | 5,483 | | | — | | | 1998 | | Total THE MART | — | | | 69,694 | | | 319,146 | | | 475,752 | | | 69,701 | | | 794,891 | | | 864,592 | | | 406,292 | | | | | | | | | | | | | | | | | | | | | | | | 555 California Street, California | 1,200,000 | | | 223,446 | | | 895,379 | | | 278,150 | | | 223,446 | | | 1,173,529 | | | 1,396,975 | | | 468,993 | | 1922,1969 -1970 | 2007 | (4) | Borgata Land, Atlantic City, NJ | — | | | 83,089 | | | — | | | 1,405 | | | 83,089 | | | 1,405 | | | 84,494 | | | 671 | | — | 2010 | | 759-771 Madison Avenue (40 East 66th Street) Residential, New York | — | | | 8,454 | | | 13,321 | | | (8,193) | | | 5,273 | | | 8,309 | | | 13,582 | | | 3,541 | | — | 2005 | (4) | Annapolis, Maryland | — | | | — | | | 9,652 | | | — | | | — | | | 9,652 | | | 9,652 | | | 5,215 | | | 2005 | (4) | Wayne Towne Center, New Jersey | — | | | — | | | 26,137 | | | 49,313 | | | — | | | 75,450 | | | 75,450 | | | 42,400 | | | 2010 | (4) | Other | — | | | — | | | — | | | 3,861 | | | — | | | 3,861 | | | 3,861 | | | 2,291 | | | | (4) | Total Other | 1,200,000 | | | 384,683 | | | 1,263,635 | | | 800,288 | | | 381,509 | | | 2,067,097 | | | 2,448,606 | | | 929,403 | | | | | | | | | | | | | | | | | | | | | | | | Leasehold improvements, equipment and other | — | | | — | | | — | | | 130,953 | | | — | | | 130,953 | | | 130,953 | | | 100,677 | | | | | | | | | | | | | | | | | | | | | | | | Total December 31, 2023 | $ | 6,304,615 | | | $ | 2,410,596 | | | $ | 5,794,204 | | | $ | 5,596,404 | | | $ | 2,436,221 | | | $ | 11,364,983 | | | $ | 13,801,204 | | | $ | 3,752,827 | | | | |
________________________________________ (1)Represents contractual debt obligations. (2)The net basis of Vornado's assets and liabilities for tax reporting purposes is approximately $1.5 billion lower than the amounts reported for financial statement purposes. (3)Date of original construction - many properties have had substantial renovation or additional construction, see "costs capitalized subsequent to acquisition" column. (4)Depreciation of the buildings and improvements is calculated over lives ranging from the life of the lease to forty years. (5)Secured amount outstanding on revolving credit facilities. The following is a reconciliation of real estate assets and accumulated depreciation: | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2023 | | 2022 | | 2021 | Real Estate | | | | | | Balance at beginning of period | $ | 13,314,755 | | | $ | 13,217,845 | | | $ | 12,087,943 | | Additions during the period: | | | | | | Land | 40,145 | | | — | | | 197,057 | | Buildings & improvements and other | 713,740 | | | 711,722 | | | 1,286,474 | | | 14,068,640 | | | 13,929,567 | | | 13,571,474 | | Less: Assets sold, written-off, reclassified to ready for sale and deconsolidated | 267,436 | | | 614,812 | | | 353,629 | | Balance at end of period | $ | 13,801,204 | | | $ | 13,314,755 | | | $ | 13,217,845 | | | | | | | | Accumulated Depreciation | | | | | | Balance at beginning of period | $ | 3,470,991 | | | $ | 3,376,347 | | | $ | 3,169,446 | | Depreciation expense | 382,638 | | | 449,864 | | | 362,311 | | | 3,853,629 | | | 3,826,211 | | | 3,531,757 | | Less: Accumulated depreciation on assets sold, written-off and deconsolidated | 100,802 | | | 355,220 | | | 155,410 | | Balance at end of period | $ | 3,752,827 | | | $ | 3,470,991 | | | $ | 3,376,347 | |
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