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Walker & Dunlop Arranges $158M for Turtle Bay Condo Project

Walker & Dunlop has arranged a $158-million construction loan for the development of 401 E. 51st St., a condominium project located in Manhattan’s Turtle Bay neighborhood. The W&D New York Capital Markets team led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer and Sean Bastian arranged the financing with TYKO Capital on behalf of CBSK Developers.

Located between First Avenue and Beekman Place, 401 E. 51st is an 83-unit condominium project. The tower will feature high-end residences including a mix of studios, one-bedrooms, two-bedrooms with offices, three-bedrooms, four-bedrooms and a five-bedroom penthouse. The tower will span more than 116,000 square feet across 26 stories.

Residents will enjoy proximity to a variety of restaurants, bars, retail offerings and galleries in addition to exclusive amenities including a state-of-the-art fitness center, resident lounge and private dining area. according to Walker & Dunlop.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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