Business

Vornado taking over Swiss Center

Vornado Realty Trust has taken over the 118,750-square-foot landmark Swiss Center at 608 Fifth Ave., which has been in the hands of Aby Rosen’s RFR Holdings for 15 years.

The land under the Art Deco building is owned by the family of the late Sarah Korein, which also owns the land under the Lever House. Both buildings were leased by RFR in 1998.

Last March, documents show, Vornado took over RFR’s mortgage with about $8.5 million still owed to another lender.

It is likely that RFR and Vornado worked out a deal to hand over the keys because at the end of December, Vornado signed a new ground lease with the Korein family that runs until April 30, 2026.

Neither Vornado nor RFR would comment.

Vornado is now quietly pitching 44,440 square feet of retail space over four levels at the building — where the Lacoste store now stands.