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Vornado Realty Trust And Crown Acquisitions Secure $450M Loan For 1535 Broadway Retail Property

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FINANCED
$450,000,000

New York

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Retail107,000 SF
Financed 04/15/2025
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Property Image
FINANCED

Vornado Realty Trust And Crown Acquisitions Secure $450M Loan For 1535 Broadway Retail Property

1535 Broadway

See Similar Deals
Retail107,000 SF
Financed 04/15/2025
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,205
Total Square Footage:107,000 SF
Transaction Type:Loan

The property involved in the transaction is 1535 Broadway, a retail asset located in Manhattan. This property spans 107,000 square feet and is noted for its full-block LED signage and retail presence in Times Square.

Summary of transaction details:

In this transaction, Vornado Realty Trust and Crown Acquisitions secured a $450 million CMBS loan. The key individuals behind this deal include Steven Roth representing Vornado Realty Trust and Haim Chera representing Crown Acquisitions, both of whom are instrumental in the ownership and management of the property.

Players

LENDER


45 deals$4.4B volume
LANDLORD

Details

FINANCED
IMAGE: Steven Roth & Haim Chera DATE: 04/15/2025 ADDRESS: 1535 Broadway MARKET: Manhattan ASSET TYPE: Retail ~ SF: 107,000 LENDER: Bank of America (@BankofAmerica), Bank of Montreal (@BMO_US) & Goldman Sachs (@GoldmanSachs) LANDLORD: Steven Roth - Vornado Realty Trust (@VornadoRealtyTrust) & Haim Chera - Crown Acquisitions LOAN AMOUNT: $450,000,000 NOTE: Vornado Realty Trust and Crown Acquisitions secured a $450M CMBS loan for 1535 Broadway, a 107K sq. ft. Times Square retail property featuring full-block LED signage.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$450,000,000.00

Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00