Summary of VORNADO REALTY TRUST

Item 8.01 Other Events.

On May 8, 2009, Vornado Realty Trust ("Vornado") issued a press release announcing that Vornado Realty L.P. (the "Company"), the operating partnership through which Vornado conducts its business and holds substantially all of its assets, completed its previously announced cash tender offer for any and all of its $154,910,000 principal amount of outstanding 4.50% Notes due 2009 (CUSIP No. 929043AB3) (the "2009 Notes"), $177,205,000 principal amount of outstanding 4.75% Notes due 2010 (CUSIP No. 929042AB5) (the "2010 Notes"), and $204,811,000 principal amount of outstanding 5.60% Notes due 2011 (CUSIP No. 929043AD9) (the "2011 Notes" and together with the 2009 Notes and the 2010 Notes, the "Securities").

The tender for the Securities expired at 5:00 p.m., New York City time on May 7, 2009. Pursuant to the terms of the tender offer, the Company purchased today an aggregate of $57,025,000 principal amount of the 2009 Notes (representing 37% of the outstanding 2009 Notes), $28,870,000 principal amount of the 2010 Notes (representing 16% of the outstanding 2010 Notes), and $87,426,000 principal amount of the 2011 Notes (representing 43% of the outstanding 2011 Notes). Securities tendered have been retired.

In accordance with the terms of the tender offer, the consideration paid for the 2009 Notes was $1,000 per $1,000 in principal amount of such Securities, the consideration paid for the 2010 Notes was $970 per $1,000 in principal amount of such Securities, and consideration paid for the 2011 Notes was $970 per $1,000 in principal amount of such Securities, plus accrued and unpaid interest to, but not including, May 8, 2009. The aggregate consideration paid for the Securities tendered, exclusive of accrued interest, was $169,832,120.

A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.