Jun
05

Alexander’s Cashes Out Nearly $200M in Manhattan Refi

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The office portion of 731 Lexington Ave. in Manhattan received $500 million in refinancing, which matures in June of 2024.

Alexander’s Inc., a Vornado Realty Trust affiliate, completed a $500 million refinancing of the office portion of 731 Lexington Ave. in Manhattan.

The interest-only loan is at LIBOR plus 0.9 percent (currently 1.95 percent) and matures in June 2024, as extended. The Paramus, N.J.–based REIT realized net proceeds of about $188 million after repaying the existing $300 million mortgage and closing costs…

Alexander’s Cashes Out Nearly $200M in Manhattan Refi

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