Real Estate

Vornado wants 510 Fifth

Vornado Realty Trust is swooping in to buy the landmarked 510 Fifth Avenue.

Sources say the real estate investment trust led by Steven Roth and Michael Fascitelli is trying to work out a deal for the five-story jewel box on the southwest corner of 43rd St., which has a small Chase branch in the mezzanine.

Designed by Skidmore, Owings & Merrill, this 61,159 footer was the first glass bank in Manhattan when it was completed in 1954 for Manufacturers Hanover Trust.

Taken over by Chase, the building was sold to Tahl-Propp Equities in 2000 for $22 million while its 145,000 feet of excess air rights were retained by Chase. City records show a current mortgage for $33 million.

The owners, represented by Norman Bobrow & Associates, have had a difficult time capitalizing on the building’s retail potential due to the landmark status that protects features such as the giant vault door.

The Vornado “twins” are known for their retail expertise as well as their patient investments like the Midtown Alexander’s site that remained a hole in the ground for several years before being developed into the mixed-use Bloomberg Tower at 731 Lexington.

As usual, no one returned calls, so stay tuned.

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Gary Barnett‘s Extell Development and its equity partner Angelo, Gordon & Co. is taking home the Helmsley’s Carlton House.

Sources told us Monday night that the team forked over a $10 million deposit and signed a contract with a price tag that will adjust at the July closing to around $170 million.

Barnett is out of town and could not be reached for comment.

The “extended stay” hotel sits on Madison Avenue between E. 61st and 62nd Streets. It has 150 years left to run on a ground lease with the Kandell family.

Unless the team can buy them out, it would be precluded from a condominium conversion, but not co-ops.

“The idea is to do residential on the upper floors and create a condo for the retail,” said one source.

Situated between Barney’s and Hermes and commanding $1,000 a foot, the retail space “could have paid for the entire building,” a source said.

The plan is to work with the Landmarks Preservation Commission to move the lobby, create storefront infill and include the second floor and lower level in the retail fold.

The team can pay all cash but the lending community is familiar with the property, having talked to serious bidders like Related, Vornado and even Starwood at one time.

Darcy Stacom and Bill Shanahan of CB Richard Ellis ran the marketing program that stirred up a feeding frenzy. They could not be reached for comment.

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Sheldon Solow‘s company is in a major transition. Sources tell us that due to health concerns, the developer signed over power of attorney to his son, Stefan, who has never been intimately involved in the daily running of the business.

That’s why the Solows have hired Jay Fischoff at the Pyne Companies to oversee the portfolio that includes the former Con Ed development site south of the United Nations, luxury rentals and tony office properties.

An RFP is now out to Cushman & Wakefield, CB Richard Ellis and Jones Lang LaSalle for the 9 West 57th Street agency. None of the parties returned calls.

Solow has made it difficult to rent up the well-respected building because he is notorious for having sued large former tenants including Avon, Morgan Stanley and Bank of America, and is picky about getting credit tenants and achieving the top rents.

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Urban Outfitters has inked a 10-year deal for 14,798 feet on two levels at 2625 Broadway, in the heart of the Upper West Side. The store will open this summer.

Amira Yunis and Zach Winkler of Newmark Knight Frank represented the Hudson Island ownership.

The tenant was brought to the space by Stephen Plourde and Keith Fencl of the McDevitt Company. Urban Outfitters was originally going to lease space at the Metro Theater across the street, but was released from that deal.

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Now that Wurk has gone kaput, SL Green Realty Corp.’s own business center subsidiary, eE merge, has left 440 Ninth Ave. and taken over their beautifully furnished 65,000-square-foot space in 1515 Broadway.

As we told you last year, Wurk had created an up scale installation on the 11th and 12th floors but was sued by SLG for non-payment of rent.

Wurk left at the end of last year, leaving most of its business tenants behind. The space is just over 72 percent occupied.

lois.weiss@nypost.com