Dechert, Sullivan & Cromwell Steer $350M Manhattan Loan

Law360 (April 5, 2021, 3:05 PM EDT) -- Dechert represented a Citi real estate financing unit in connection with the company's $350 million loan to Sullivan & Cromwell-counseled Vornado Realty Trust for an office building in Manhattan, according to records made public in New York on Monday.

The loan from Citi Real Estate Funding Inc. is for 909 Third Ave. and is an assumption and refinancing of pre-existing debt on the property. The 32-floor tower was built in 1968 and is located between East 54th and East 55th streets. Lexington Avenue – 53rd Street is the nearest subway station.

"The design of 909 Third Avenue incorporates the modernist ideals...

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