Vornado JV Refis Times Square retail destination, 1535 Broadway, for $450M

4/15/2025

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Connect CRE

• Subcategory: Capital Markets: Debt, Retail: Shopping

• Tag: Closing | JV-Partnership

• Additional Filters-Subcategory: Capital Markets: Debt-CMBS, Capital Markets: Debt-Refinance, Capital Markets: Preferred Equity

• Company: Vornado Realty Trust (NYSE:VNO), Goldman Sachs (NYSE: GS), Bank of America (NYSE: BAC), Bank of Montreal

Vornado Realty Trust said its 52% owned street retail joint venture has completed a $450-million financing of 1535 Broadway, a Times Square retail destination with full blockfront 4K LED signage. The interest only, non–recourse CMBS loan carries a fixed rate of 6.90% and matures in May 2030.