Vornado Realty Trust (VNO) BofA Securities 2025 Global Real Estate Conference Transcript

Jana Galan
Research Analyst

Good afternoon. Welcome to Bank of America’s 2025 Global Real Estate Conference. I’m Jana Galan, and I cover the office REITs at BofA. We’re very pleased to have with us Vornado’s President and Chief Financial Officer, Michael Franco; EVP and Office Leasing and co-Head of Real Estate, Glenn Weiss; EVP and CAO, Thomas Sanelli; and SVP, Gary Hansen. I’ll turn it over to Vornado to provide some opening remarks, and then we can jump into Q&A.

Michael Franco
President & CFO

As we’re sitting around here, Jana, I’m realizing that the post-lunch slot is a tough one. So next year, we’re going to have to go pre or later. Everybody is probably still eating or waking up. Anyway, nice to be with everybody today. Thanks for joining us. I was reflecting on where we were a year ago. I read what we said a year ago in terms of where I thought New York was and where it was going to be. And I don’t know whether you guys thought we were talking in our book or whatnot, but we were pretty bullish about what we were seeing, and we thought the momentum would pick up, and it absolutely has, and we’ll talk about that. And frankly, it’s accelerating.

So we’re quite happy about what we’ve done over the last couple of years, and we can talk about the different items we’ve executed on. But I think everybody knows our company. We are a New York-centric company, New York City-centric company. We