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Vornado Realty Trust And Korea Post Refinance Office Building At 7 West 34th Street For $250M
FINANCED
$250,000,000
New York
See Similar DealsOffice477,000 SF
Financed 01/27/2026
FINANCED
Vornado Realty Trust And Korea Post Refinance Office Building At 7 West 34th Street For $250M
7 West 34th Street
See Similar DealsOffice477,000 SF
Financed 01/27/2026
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$524
Total Square Footage:477,000 SF
Transaction Type:Loan
7 West 34th Street is a fully Amazon-leased 12-story office building located in Manhattan, comprising 477,000 square feet of office space. The property has recently undergone refinancing with a loan amount of $250,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $250,000,000
- Loan Type: Refinance
- Loan Term: Five years, interest-only
- Interest Rate: 5.79% fixed
- Previous Loan: Replaced a $300,000,000 MetLife note
- Landlord: Steven Roth - Vornado Realty Trust & Korea Post
- Address: 7 West 34th Street, Manhattan
Steven Roth represents Vornado Realty Trust in this deal, alongside Korea Post as a landlord in the transaction. The refinancing deal strategically replaces an existing note with more favorable loan terms for the property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$250,000,000.00
Monthly NOI$1,666,666.67
Monthly Debt Service$1,580,170.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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