Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Falanga Mark
2. Date of Event Requiring Statement (Month/Day/Year)
07/26/2011
3. Issuer Name and Ticker or Trading Symbol
VORNADO REALTY TRUST [VNO]
(Last)
(First)
(Middle)
C/O VORNADO REALTY TRUST, 888 7TH AVENUE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President-Merch. Mart Division
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10019
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 5,007.63 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Options (Right to Buy) 01/28/2003 01/28/2012 Common Shares 1,671 $ 41.285 D  
Options (Right to Buy) 02/08/2006 02/08/2015 Common Shares 2,534 $ 70.2986 D  
Options (Right to Buy) 01/20/2008 03/07/2017 Common Shares 2,006 (2) $ 121.58 D  
Options (Right to Buy) 01/20/2009 02/20/2018 Common Shares 2,757 (3) $ 86.195 D  
Options (Right to Buy) 02/27/2010 02/27/2019 Common Shares 6,000 (4) $ 33.815 D  
Options (Right to Buy) 02/27/2012 02/28/2021 Common Shares 2,002 (5) $ 91.695 D  
Restricted Units   (6)   (6) Common Shares 720 $ (7) D  
Restricted Units   (8)   (8) Common Shares 1,100 $ (9) D  
Restricted Units   (10)   (10) Common Shares 436 $ (11) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Falanga Mark
C/O VORNADO REALTY TRUST
888 7TH AVENUE
NEW YORK, NY 10019
      President-Merch. Mart Division  

Signatures

/s/ Steven Santora, Attorney in Fact 08/03/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 45 of these Common Shares were isssued as restricted stock and remain unvested under the terms of the Vornado Realty Trust Omnibus Share Plan, with each original grant vesting in equal portions over a five year period. These 45 Common Shares vest in January of 2012.
(2) These options vested ratably over a five-year period. 1,604 of these options are vested and 402 will vest in January of 2012.
(3) These options vested ratably over a five-year period. 1,654 of these options are vested, 551 will vest in January of 2012 and 552 will vest in January of 2012.
(4) These options vested ratably over a five-year period. 2,400 of these options are vested; 1,200 will vest in January of 2012; 1,200 will vest in January of 2013 and 1,200 will vest in January of 2013.
(5) These options vest ratably over a four-year period with the first vesting occurring on February 27, 2012.
(6) On February 27, 2009, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Company. The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership ("Class A Units"). Class A Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one-for-one basis or the cash value of such shares.
(7) The remaining unvested Restricted Units vest in equal portions over a three-year period with the initial vesting occurring on February 27, 2012.
(8) On March 11, 2010, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Company. The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership ("Class A Units"). Class A Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one-for-one basis or the cash value of such shares.
(9) 275 of these units are vested. The remaining Restricted Units vest in equal portions over a three-year period with the initial vesting occurring on February 27, 2012.
(10) On February 28, 2011, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Company. The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership ("Class A Units"). Class A Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one-for-one basis or the cash value of such shares.
(11) These Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on February 27, 2012.

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