**Vornado Realty Trust Refinances 4 Union Square South for $120 Million**
Vornado Realty Trust has secured a $120 million refinancing package for 4 Union Square South, a prominent 204,000-square-foot retail property located in Manhattan. The new 10-year, interest-only loan carries a fixed interest rate of 5.64%.
This refinancing replaces a previous $120 million loan that bore interest at SOFR plus 1.50%, which was originally set to mature in August 2025. While the specific lender for the new loan was not disclosed, previous financing for the property has come from Wells Fargo.
Vornado redeveloped 4 Union Square South in 2005, transforming it from a single department store into a 200,000-square-foot multi-tenant vertical retail complex. Today, the property serves as a key retail destination at the heart of Union Square, surrounded by six residential neighborhoods, New York University, and a major public transit hub.
Current tenants at 4 Union Square South include DSW, Burlington, and one of New York City’s first Whole Foods Markets.
