{"id":1004785297,"date":"2026-01-27T03:08:49","date_gmt":"2026-01-27T11:08:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004785297"},"modified":"2026-01-27T05:51:24","modified_gmt":"2026-01-27T13:51:24","slug":"vornado-jv-lands-250m-for-manhattan-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/","title":{"rendered":"Vornado JV Lands $250M for Manhattan Building"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a358ab5bb002&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004785299\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/attachment\/7551\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7551.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"7West34thStreetRefi\" data-image-description=\"&lt;p&gt;Image sourced from Yardi Matrix &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Amazon fully leasing the office space at the property. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7551.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7551.jpg\" alt=\"7 West 34th Street\" class=\"wp-image-1004785299\" style=\"width:330px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7551.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7551.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Amazon fully leases the office space of the 12-story property. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The joint venture of Vornado Realty Trust and Korea Post has obtained a $250 million note for the refinancing of 7 West 34th Street, a fully occupied Class A office building in Manhattan\u2019s Murray Hill neighborhood.<\/p>\n\n\n\n<p>The non-recourse, five-year, interest-only loan bears a fixed interest rate of 5.79 percent and will mature in February 2031. A private lender provided the financing, according to Yardi Matrix information.<\/p>\n\n\n\n<p>Proceeds retire the outstanding balance of a 10-year, $300 million loan from Metropolitan Life Insurance Co., the same data provider shows. That note, due to mature in June 2026, has a fixed interest rate of 3.65 percent.<\/p>\n\n\n\n<p>The office building encompasses 477,000 square feet across 12 stories. Vornado purchased the asset in 2000 from Equity Commonwealth for $128 million, or $268.35 per square foot. Korea Post acquired a 47 percent ownership stake in the property for $561 million in 2016.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">Office Real Estate Trends<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Completed in 1901, the mid-rise underwent a complete renovation in 2014. The LEED Gold-certified property has floorplates ranging from 5,412 to 43,737 square feet and 19,000 square feet of retail space on the ground floor. Amazon leases the building&#8217;s entire office space for its Prime Now delivery service, while the retail portion houses Lindt chocolate and LensCrafters.<\/p>\n\n\n\n<p>The fully occupied asset is across the street from the Empire State Building. Both Madison Square Garden and Herald Square are half a mile away. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-vornado-s-recent-manhattan-activity\">Vornado&#8217;s recent Manhattan activity <\/h2>\n\n\n\n<p>Vornado owns office and retail properties across Manhattan, with more than 20 million square feet of office space in its portfolio, according to Yardi Matrix. Earlier this month, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/vornado-to-land-525m-refi-for-manhattan-office-building\/\">secured a $525 million refinancing loan<\/a> for One Park Avenue, a deal expected to close in February.<\/p>\n\n\n\n<p>In November, Vornado signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/vornado-lands-fintech-tenant-at-manhattan-tower\/\">10-year, 62,000-square-foot lease<\/a> with Current, a financial technology company, at Penn 2, its redeveloped office property above Penn Station. The new tenant is relocating from Manhattan&#8217;s Chelsea neighborhood.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon fully occupies the property.<\/p>\n","protected":false},"author":3749,"featured_media":1004785298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[37482,32779,35073,33030],"class_list":["post-1004785297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-amazon","tag-leed","tag-metropolitan-life-insurance-company","tag-vornado-realty-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vornado JV Lands $250M for Manhattan Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Vornado Realty Trust and Korea Post have refinanced 7 West 34th Street, an office building in Manhattan, with a $250 million loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vornado JV Lands $250M for Manhattan Building\" \/>\n<meta property=\"og:description\" content=\"Vornado Realty Trust and Korea Post have refinanced 7 West 34th Street, an office building in Manhattan, with a $250 million loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-27T11:08:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-27T13:51:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7West34thStreetRefi.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mikayla Sciortino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/\",\"name\":\"Vornado JV Lands $250M for Manhattan Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7West34thStreetRefi.png\",\"datePublished\":\"2026-01-27T11:08:49+00:00\",\"dateModified\":\"2026-01-27T13:51:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f119cdcafd70d8f34fc5aa340ed5382b\"},\"description\":\"Vornado Realty Trust and Korea Post have refinanced 7 West 34th Street, an office building in Manhattan, with a $250 million loan.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vornado-jv-lands-250m-for-manhattan-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7West34thStreetRefi.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/7West34thStreetRefi.png\",\"width\":800,\"height\":620,\"caption\":\"Amazon fully leasing the office space at the property. 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