Vornado JV Lands $161 million for Manhattan Asset

May 13, 2026

Finance New York News Northeast More Office

The property sits within the Meatpacking District.

Exterior shot of the office building at 61 Ninth Ave. in Manhattan's Meatpacking District. — The office property at 61 Ninth Ave. is entire leased and encloses one of the largest Starbucks locations in the world.
*Image courtesy of Yardi Matrix*

Vornado Realty Trust and Aurora Capital Associates have secured a $161 million refinancing loan for 61 Ninth Ave., a Class A 194,000-square-foot office property in Manhattan’s Meatpacking District.

Scheduled to mature in March 2029, the note carries a 3 percent interest rate in the first year, 3.35 percent in the second year and 3.85 percent for the remainder of the term.

In February, the partnering companies entered into a seven-month extension with the lenders on the previous $167.5 million mortgage loan encumbering the asset, according to public records, and paid down the principal balance by $12.5 million to $155 million. The present refinancing retires that non-recourse debt.

A closer look at 61 Ninth Ave.

The nine-story office building came online in 2018 and has 20,000 square feet of retail space, three passenger elevators, a rooftop terrace and bike storage. The office component at the LEED Gold-certified property is fully leased to health insurance company Aetna, while the retail space houses one of the largest Starbucks locations in the world.

The low-rise is one block west of the subway station at the corner of 14th St. and Eighth Avenue and close to New York State Route 9A.

Class A office buildings continue to refinance successfully despite recent distress concerning office loan maturity dates due to competitive lending markets, according to Trepp Connect conference speakers. This week, another Chelsea-area office asset became the subject of a substantial refinancing package. Namely, Brookfield Properties secured a $1.9 billion loan for Two Manhattan West, a 2 million-square-foot office tower, situated north of Vornado’s asset along Ninth Avenue.