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Vornado completes $350M refinancing of Manhattan building

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Paramus-based Vornado Realty Trust announced Thursday that it has completed a $350 million refinancing of 909 Third Avenue, a 1.3 million-square-foot Manhattan office building.

According to the announcement, the seven-year loan is interest only at 3.91 percent.  The company attained net proceeds of approximately $145 million after repaying an existing 5.64 percent, $193 million mortgage, and other costs.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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