Vornado Completes $250M Refinancing of 7 West 34th Street
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Vornado Realty Trust announced that its 53% owned joint venture has completed a $250M refinancing of 7 West 34th Street, a 477,000 square foot Class A Manhattan office building. Amazon leases all of the office space at the property. The non-recourse, five-year interest only loan matures in February 2031 and has a fixed rate of 5.79%. The joint venture paid down by $50M the prior $300M loan that was fully recourse to Vornado, bore interest at 3.65% and was scheduled to mature in June.
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Analyst Views on VNO
Wall Street analysts forecast VNO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VNO is 38.91 USD with a low forecast of 28.00 USD and a high forecast of 46.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
6 Hold
3 Sell
Hold
Current: 31.200
Low
28.00
Averages
38.91
High
46.00
Current: 31.200
Low
28.00
Averages
38.91
High
46.00
About VNO
Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). The Company conducts its business through, and substantially all its interests in properties are held by, Vornado Realty L.P. Its portfolio is concentrated on premier office and high street retail properties in New York City. Its segments include New York and Other. Its New York segment consisted of approximately 26.4 million square feet in 64 properties. The 26.4 million square feet comprises over 20.1 million square feet of Manhattan office in 30 of the properties, 2.4 million square feet of Manhattan street retail in 49 of the properties, 1,330 units in two residential properties, and its 32.4% interest in Alexander’s, which owns five properties in the greater New York metropolitan area. It also includes nine garages totalling over 1.6 million square feet (4,685 spaces). Its Real Estate and Investments consists of over 3.7 million square foot THE MART in Chicago.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Alexander's, Inc. to Release 2025 Annual Report on February 9, 2026
- Annual Report Filing: Alexander's, Inc. (NYSE: ALX) will file its annual report for the year ended December 31, 2025, on February 9, 2026, before the NYSE opens, enhancing financial transparency for stakeholders.
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