FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 * MACNOW JOSEPH   2. Issuer Name and Ticker or Trading Symbol VORNADO REALTY TRUST [VNO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP - Finance, Chief Admin. Of (Last) (First) (Middle) 210 ROUTE 4 EAST 3. Date of Earliest Transaction (Month/Day/Year) 05/13/2014 (Street) PARAMUS, NJ 07652 4. If Amendment, Date Original Filed(Month/Day/Year) 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 Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 05/13/2014   M   7,205 A $ 69.3752 37,995 (1) D   Common Shares 05/13/2014   M   2,999 A $ 33.3709 40,994 (1) D   Common Shares 05/13/2014   M   4,185 A $ 71.6415 45,179 (1) D   Common Shares 05/13/2014   F   8,551 D $ 105.23 36,628 (1) D   Common Shares 05/14/2014   S   3,241 D $ 105.6641 (2) 33,387 (1) D   Common Shares 05/14/2014   S   69,080 D $ 105.7633 (3) 0 (1) I held by spouse (4) Common Shares 05/15/2014   G(5) V 220 D $ 0 (5) 33,167 (1) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options (Right to Buy)

$ 69.3752

05/13/2014

M

7,205

02/08/2006

02/08/2015

Common Shares

7,205

$ 0

11,747

D

Options (Right to Buy)

$ 33.3709

05/13/2014

M

2,999

02/27/2010

02/27/2019

Common Shares

2,999

$ 0

37,533

D

Options (Right to Buy)

$ 71.6415

05/13/2014

M

4,185

03/11/2011

03/11/2020

Common Shares

4,185

$ 0

85,795

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MACNOW JOSEPH 210 ROUTE 4 EAST PARAMUS, NJ 07652			EVP - Finance, Chief Admin. Of

Signatures

/s/ Steven Santora, Attorney in Fact		05/15/2014
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	Common Shares of beneficial interest, par value $.04 per share (the "Common Shares") of Vornado Realty Trust (the "Company").
(2)	Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $105.55 and $105.84. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(3)	Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $105.55 and $106.01. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(4)	These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.
(5)	These Common Shares were a gift.

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