Vornado, Stellar land $675M refi for Independence Plaza

Vornado Realty Trust and Larry Gluck’s Stellar Management refinanced their Tribeca rental tower Independence Plaza with a $675 million mortgage from an unnamed lender, Vornado announced Tuesday. The seven-year loan has a fixed interest rate of 4.25 percent, according to the press release. Gluck bought the 1,327-unit tower at 80 North Moore Street in 2003,[…]

Walter & Samuels lands $70M refi for Midtown office building

Walter & Samuels refinanced its Midtown office building at 500 Eighth Avenue with a $70 million mortgage from Allegiant Capital Funding. Allegiant took over an existing $60 million loan from Citibank and issued a $10 million gap mortgage as part of the deal, property records show. David Berley’s Walter & Samuels bought the 12-story, 250,000-square-foot[…]

Office software startup Workframe raises $9.5M from Newmark, others

    Commercial property software startup Workframe raised $9.5 million in a Series B funding round led by Newmark Knight Frank, the companies announced Wednesday. MetaProp NYC’s venture capital arm and Venrock also participated in the round. Workframe did not disclose its post-funding valuation. Workframe, founded in 2014, sells an online platform that allows office[…]

Live Nation inks lease at building next to Meatpacking HQ

  Live Nation inked a 20,756-square-foot lease at Rockpoint Group and Highgate’s 412 West 15th Street, next door to its current Meatpacking District office. The concert promotion company will continue to occupy the entire 100,000-square-foot building at 430 West 15th Street and expand its footprint in the neighborhood, Commercial Observer reported. Invesco signed a contract[…]

Softbank-backed Katerra acquires NJ construction company

  Fresh off raising $865 million in venture funding, construction startup Katerra acquired Hoboken-based Fields Construction Company. Fields, founded in 1999 and led by Robert and James Caulfield, will lose its name. Katerra, which announced the deal on Thursday, did not disclose financial terms. California-based Katerra, founded in 2015, wants to transform the construction business[…]

Vornado mulls splitting itself up, again

More than a year after spinning off its Washington, D.C., business, Vornado Realty Trust is once again toying with the idea of splitting itself into separate companies. Steven Roth, CEO of the firm, said it’s possible Vornado will spin off a development company from its income-producing real estate. The rationale: Vornado has several expensive development[…]