Newmark Group announced on June 10, 2025, that it arranged a $675 million loan on behalf of Vornado Realty Trust and Stellar Management. The financing is for the refinancing of Independence Plaza, a 1,328-unit multifamily property located in the Tribeca neighborhood of Manhattan.
Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Nick Scribani secured the financing from Deutsche Bank, Wells Fargo, Bank of America, and Morgan Stanley. The property totals 1.4 million square feet across three 39-story residential towers, townhomes, and retail frontage.
This large-scale refinancing underscores the enduring appeal of premier multifamily assets in key urban markets. It highlights Newmark's robust debt and structured finance capabilities in facilitating complex transactions for significant real estate holdings.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.