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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 f8j7zNd8nU2J/dlSuNIp5g==

<SEC-DOCUMENT>0001209191-04-008430.txt : 20040210
<SEC-HEADER>0001209191-04-008430.hdr.sgml : 20040210
<ACCEPTANCE-DATETIME>20040210194427
ACCESSION NUMBER:		0001209191-04-008430
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040206
FILED AS OF DATE:		20040210

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VORNADO REALTY TRUST
		CENTRAL INDEX KEY:			0000899689
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				221657560
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		888 SEVENTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-894-7000

	MAIL ADDRESS:	
		STREET 1:		888 SEVENTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SMITH ROBERT H
		CENTRAL INDEX KEY:			0001077635

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11954
		FILM NUMBER:		04583522

	BUSINESS ADDRESS:	
		STREET 1:		2345 CRYSTAL DR
		STREET 2:		SUITE 1100
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202
		BUSINESS PHONE:		7037691347

	MAIL ADDRESS:	
		STREET 1:		2345 CRYSTAL DR
		STREET 2:		SUITE 1100
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bny93998_bny1rhs.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-02-06</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000899689</issuerCik>
        <issuerName>VORNADO REALTY TRUST</issuerName>
        <issuerTradingSymbol>VNO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001077635</rptOwnerCik>
            <rptOwnerName>SMITH ROBERT H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>888 SEVENTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman-Smith Division</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2004-02-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16500</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">16,500 of these Common Shares are &quot;restricted stock&quot; under the terms of the Vornado Realty Trust 2002 Omnibus Share Plan. Of these 16,500 Common Shares: (i) an aggregate of 10,000 Common Shares of restriced stock were granted to Mr. Smith on January 28, 2003 and April 1, 2003. Twenty percent of these 10,000 Common Shares of restricted stock vested on January 28, 2004 and the remaining 80% will vest in equal amounts on the first business day of each January of 2005, 2006, 2007 and 2008, subject to the terms of the plan; and (ii) 6,500 Common Shares of restricted stock were granted to Mr. Smith on February 6, 2004. Twenty percent of these 6,500 Common Shares of restricted stock will vest on the first business day of each January of 2005, 2006, 2007, 2008 and 2009, subject to the terms of the plan.</footnote>
        <footnote id="F2">Restricted stock grant.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert H. Smith</signatureName>
        <signatureDate>2004-02-10</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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