Vornado's Retail JV Completes $450 Million Financing of 1535 Broadway

NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed a $450 million financing of 1535 Broadway, a premier Times Square retail destination with full blockfront 4K LED signage. The interest only, non–recourse loan carries a fixed rate of 6.90% and matures in May 2030.

After transaction costs and reserves, $407 million of the net proceeds from the financing were used to partially redeem Vornado's Retail JV preferred equity.

Vornado Realty Trust ...