The origins of the company can be traced back to the Two Guys discount store chain, founded in 1947 by brothers Sidney and Herbert Hubschman.

[4][5] In 1986, Interstate Properties and Donald Trump each bought approximately 20% of Alexander's, a failing retailer whose real estate holdings included a store that occupied the entire block between East 58th and 59th streets and Lexington and Third Avenues in Manhattan.

[10] On February 15, 2001, the Port Authority announced that Vornado Realty Trust had won the bid for a 99-year lease for the World Trade Center, offering $3.25 billion.

[12] Silverstein signed a lease for the World Trade Center in April 2001,[13] 5 months before the September 11 attacks.

In 2001, the company acquired Charles E. Smith Commercial Realty, owner of a portfolio of assets primarily in Arlington, Virginia, in a $1.58 billion transaction.

[19] In 2015, the company spun off its interest in Urban Edge Properties, a spinoff consisting of its former retail holdings outside Manhattan, to its shareholders.