Vornado JV completes $250M refinancing of 7 West 34th Street

Vornado (VNO) Realty Trust announced that its 53% owned joint venture has completed a $250M refinancing of 7 West 34th Street, a 477,000 square foot Class A Manhattan office building. Amazon leases all of the office space at the property. The non-recourse, five-year interest only loan matures in February 2031 and has a fixed rate of 5.79%. The joint venture paid down by $50M the prior $300M loan that was fully recourse to Vornado, bore interest at 3.65% and was scheduled to mature in June.