Vornado and LeFrak Sign Agreement for Le Colonial Restaurant in Manhattan
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 7 hours ago
0mins
Should l Buy VNO?
Vornado Realty Trust and LeFrak announced an agreement with Le Colonial to open a new restaurant at 50 West 57th Street, marking the acclaimed French Vietnamese concept's highly anticipated return to Manhattan. This new location is expected to open summer 2027. Under a 15-year lease, Le Colonial will create a new dining destination across 9,600 square feet located between Fifth and Sixth Avenues in the heart of Midtown Manhattan. The restaurant will feature 215 seats, offering indoor and outdoor seating, a full bar and lounge, and private dining. In addition, Le Colonial signed a companion office lease to house its New York City offices on the building's entire seventh floor.
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Analyst Views on VNO
Wall Street analysts forecast VNO stock price to rise
11 Analyst Rating
2 Buy
6 Hold
3 Sell
Hold
Current: 26.510
Low
28.00
Averages
38.91
High
46.00
Current: 26.510
Low
28.00
Averages
38.91
High
46.00
About VNO
Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). The Company conducts its business through, and substantially all its interests in properties are held by, Vornado Realty L.P. Its portfolio is concentrated on premier office and high street retail properties in New York City. Its segments include New York and Other. Its New York segment consisted of approximately 26.4 million square feet in 64 properties. The 26.4 million square feet comprises over 20.1 million square feet of Manhattan office in 30 of the properties, 2.4 million square feet of Manhattan street retail in 49 of the properties, 1,330 units in two residential properties, and its 32.4% interest in Alexander’s, which owns five properties in the greater New York metropolitan area. It also includes nine garages totalling over 1.6 million square feet (4,685 spaces). Its Real Estate and Investments consists of over 3.7 million square foot THE MART in Chicago.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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