Vanbarton Group landed a $168.4 million loan from Morgan Stanley for its office building at 132 West 31st Street in Midtown.
The 18-story building, also known as 31 Penn Plaza, spans 444,000-square feet and is located between Fifth and Sixth Avenues.
The loan package consists of the unpaid balance from a 2014 loan, also from Morgan Stanley. That portion of the mortgage amounts to $140.5 million. Morgan Stanley also provided $27.9 million in new financing.
Tenants in the building include research firm NPD Group and data-based lending platform Credit Junction.