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Vornado, Aurora Capital get $90M loan for NY office-and-retail project

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Vornado, Aurora Capital get $90M loan for NY office-and-retail project

Helaba and CIT Group provided a $90 million construction loan for Vornado Realty Trust and Aurora Capital Associates' Meatpacking District project at 61 9th Ave. in New York, The Real Deal reported.

The developers secured the five-year, floating-rate loan Dec. 22.

Construction is already underway at the office-and-retail project, with completion scheduled for late 2017.

According to the report, the 164,000-square-foot class A property is set to house the largest Starbucks Coffee store in the world.