**Vornado Realty Trust Completes $120M Refinancing of 4 Union Square South**
Vornado Realty Trust has secured a $120 million refinancing for 4 Union Square South, a 204,000-square-foot retail property located in Manhattan. The new loan is a 10-year, interest-only mortgage with a fixed interest rate of 5.64%.
This refinancing replaces an existing $120 million loan that bore interest at SOFR plus 1.50%, originally set to mature in August 2025. While the current lender was not disclosed, Wells Fargo had previously provided financing on the property.
Originally a single department store, 4 Union Square South was redeveloped by Vornado in 2005 into a multi-tenant vertical retail building encompassing 200,000 square feet. Strategically positioned in a high-traffic area, the property benefits from its proximity to six residential neighborhoods, New York University, and a major subway hub. Key tenants include DSW, Burlington, and one of New York City’s earliest Whole Foods Markets.
