Vornado Realty Trust (VNO) has refinanced 4 Union Square South, a 204,000-square-foot retail property in Manhattan, with a new $120 million, ten-year, interest-only loan at a fixed 5.64 percent rate.
The deal replaces an existing $120 million loan, which carried interest at SOFR plus 1.50 percent (5.85% as of August 11, 2025) and was set to mature in August 2025.
Tuesday VNO closed at $36.82 or 2.53% higher on the NYSE.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.