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SEC Schedule III Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III Real Estate and Accumulated Depreciation
COLUMN ACOLUMN BCOLUMN CCOLUMN DCOLUMN ECOLUMN FCOLUMN GCOLUMN HCOLUMN 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
LandBuildings
and
improvements
LandBuildings
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 19632007(4)
One Park Avenue525,000 197,057 369,016 15,684 197,057 384,700 581,757 25,714 19262021(4)
350 Park Avenue400,000 265,889 363,381 108,646 306,034 431,882 737,916 181,322 19602006(4)
PENN 1— — 412,169 914,769 — 1,326,938 1,326,938 435,128 19721998(4)
100 West 33rd Street 480,000 331,371 361,443 78,189 331,371 439,632 771,003 186,718 1911/20092007(4)
150 West 34th Street75,000 119,657 268,509 — 119,657 268,509 388,166 57,618 19002015(4)
PENN 2575,000 
(5)
53,615 164,903 845,098 52,689 1,010,927 1,063,616 109,183 19681997(4)
90 Park Avenue— 8,000 175,890 200,721 8,000 376,611 384,611 208,034 19641997(4)
770 Broadway700,000 52,898 95,686 198,096 52,898 293,782 346,680 146,826 19071998(4)
888 Seventh Avenue259,800 — 117,269 180,130 — 297,399 297,399 168,398 19801998(4)
PENN 11500,000 40,333 85,259 142,088 40,333 227,347 267,680 112,615 19231997(4)
909 Third Avenue350,000 — 120,723 128,753 — 249,476 249,476 143,228 19691999(4)
150 East 58th Street— 39,303 80,216 65,710 39,303 145,926 185,229 78,336 19691998(4)
595 Madison Avenue— 62,731 62,888 82,600 62,731 145,488 208,219 64,983 19681999(4)
330 West 34th Street— — 8,599 188,073 — 196,672 196,672 68,953 19251998(4)
715 Lexington Avenue— — 26,903 20,828 30,086 17,645 47,731 2,918 19232001(4)
4 Union Square South120,000 24,079 55,220 14,329 24,079 69,549 93,628 30,512 1965/20041993(4)
The Farley Building — — 476,235 956,812 — 1,433,047 1,433,047 106,076 19122018(4)
260 Eleventh Avenue— — 80,482 8,201 — 88,683 88,683 18,343 19112015(4)
606 Broadway74,119 45,406 8,993 486 23,930 30,955 54,885 1,696 2016(4)
435 Seventh Avenue95,696 19,893 19,091 2,032 19,893 21,123 41,016 12,659 20021997(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 19102014(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 19202015(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 19322015(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 ACOLUMN BCOLUMN CCOLUMN DCOLUMN ECOLUMN FCOLUMN GCOLUMN HCOLUMN I
Encumbrances(1)
Initial cost to companyCosts
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
LandBuildings
and
improvements
LandBuildings
and
improvements
Total(2)
New York - continued
Manhattan - continued
339 Greenwich Street$— $2,622 $12,333 $(10,018)$866 $4,071 $4,937 $368 2017(4)
Hotel Pennsylvania— 29,903 121,712 163,985 29,903 285,697 315,600 — 19191997(4)
Other (Including Signage)— 140,477 31,892 56,012 108,589 119,792 228,381 32,781 (4)
Total Manhattan5,104,615 2,025,913 4,530,569 4,644,755 2,053,679 9,147,558 11,201,237 2,707,928 
Other Properties
Paramus, New Jersey— — — 20,408 1,033 19,375 20,408 14,819 19671987(4)
Total Other Properties— — — 20,408 1,033 19,375 20,408 14,819 
Total New York5,104,615 2,025,913 4,530,569 4,665,163 2,054,712 9,166,933 11,221,645 2,722,747 
Other
THE MART
THE MART, Illinois$— $64,528 $319,146 $475,435 $64,535 $794,574 $859,109 $406,292 19301998(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, California1,200,000 223,446 895,379 278,150 223,446 1,173,529 1,396,975 468,993 1922,1969 -19702007(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 Other1,200,000 384,683 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,
 202320222021
Real Estate   
Balance at beginning of period$13,314,755 $13,217,845 $12,087,943 
Additions during the period:
Land40,145 — 197,057 
Buildings & improvements and other713,740 711,722 1,286,474 
 14,068,640 13,929,567 13,571,474 
Less: Assets sold, written-off, reclassified to ready for sale and deconsolidated267,436 614,812 353,629 
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 expense382,638 449,864 362,311 
 3,853,629 3,826,211 3,531,757 
Less: Accumulated depreciation on assets sold, written-off and deconsolidated100,802 355,220 155,410 
Balance at end of period$3,752,827 $3,470,991 $3,376,347