435 Seventh Avenue
New York, NY 10001
(212) 894-7984
Website
This three-story building on the corner of 34th Street and Seventh Avenue is fully leased to Swedish retailer H&M, which operates a 43,000-square-foot store. Market observers in 2010 credited the arrival of H&M, brought in by building owner Vornado Realty Trust, with helping to improve the area. Vornado controls about 9 million square feet in the Penn Plaza area, with buildings such as One Penn Plaza and Two Penn Plaza; its holdings include about 780,000 square feet of retail space, such as the Manhattan Mall. About 600,000 commuters pass through Penn Station daily, in addition to tourists drawn by attractions such as Madison Square Garden.
Germanys Landesbank Baden-Wôrttemberg in 2012 provided $98 million of refinancing on the building, with Vornado retaining net proceeds of about $44 million. The seven-year loan bears interest at LIBOR plus 2.25% (2.46% at December 31, 2012).
-NE
- Address 435 Seventh Avenue
- neighborhood Penn Plaza
- borough Manhattan
- owner Vornado Realty Trust
- owner entity VNO 435 SEVENTH LLC
- sales/marketing Vornado Realty Trust, Meredith Fales
- Year Built 2002
- square feet 39,983
- block and lot 1-00809-0080
- BIN 1015217
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- Event Retail Leasing
- Address 435 Seventh Avenue
- Neighborhood Penn Plaza
- Borough Manhattan
- Square feet 43,000
- Publication Date 05/07/2018
- Event Date 04/20/2018
- Party 1 Vornado Realty Trust
- Party 2 Forever 21
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Jason Greenstone, Mike O'Neill, Taylor Reynolds