One Vanderbilt is close to getting refinanced with an enormous loan seven months after developer SL Green Realty celebrated the 1,400-foot-tall skyscraper's grand opening.

The REIT is negotiating a $2.25B refinancing package, led by Goldman Sachs and Wells Fargo, which would be one of the largest loans for a single building in New York City history when it closes, which is expected to be in June, The Real Deal reports.

This is the latest in a series of refinancing deals on Midtown office buildings recently amid low interest rates and a depressed sales market. Earlier this month, Vornado secured $350M in refinancing on the 1.3M SF office building at 909 Third Ave. from Bank of America and BMO Harris Bank.

It also scored $525M from Deutsche Bank and Barclays to refinance One Park Ave. in February. Last month, CIM Group received $400M for its Midtown office building at 1440 Broadway, financed by JPMorgan Chase.

This deal comes during the roughest office market this century, with availabilities up 50% year-over-year last quarter.

The 1.7M SF office building, which cost $3.3B to build, is the fourth-tallest in New York City. It reached 73% total occupancy at the beginning of the year, according to SL Green.

Newmark’s Dustin Stolly and Jordan Roeschlaub are arranging the deal for SL Green, per TRD. SL Green and its equity partners in the project, the National Pension Service of Korea and Hines, would be able to cash out nearly $1B from the refinancing after paying off their construction loan, also backed by Wells Fargo, according to TRD.