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Walker & Dunlop Arranges $162M for Completion of Mandarin Oriental Residences Fifth Ave. 

Walker & Dunlop, Inc. has arranged $162.4 million in construction financing for Mandarin Oriental Residences, Fifth Avenue, New York City’s first turn-key branded residences available for sale, according to a statement by Walker & Dunlop. 

Located directly on Fifth Avenue at the intersection of East 54th Street in Manhattan’s Plaza District, the property will be managed and operated by Mandarin Oriental, providing owners with access to luxury, five-star hotel services, without the hotel guests, the statement said. 

Manhattan-based Northwind Group provided the whole loan solution through its discretionary debt fund. In the last year, Northwind Group has originated $840 million of loans secured by 76 properties in NYC, Houston, Miami, and Chicago. 

Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Bastian and Michael Ianno led Walker & Dunlop’s team in arranging the financing. The team served as exclusive advisor to development and investment firm SHVO.  

Proceeds from the loan allowed SHVO to refinance the existing debt and capitalize for remaining construction costs to complete the conversion of the former Gucci NYC headquarters.  

“This financing will reinforce the project’s swift completion, with closings anticipated later this year for this world-class, luxury product that is unavailable to buyers in today’s market.” said Appel. 

Separately, SHVO announced an exclusive partnership between its Mandarin Oriental Residences rpojects in Manhattan and Beverly Hills and Saks Fifth Avenue. The first-of-its-kind collaboration will provide residents at the New York and Beverly Hills properties with special in-residence offerings, VIP services and curated lifestyle programming. 


Inside The Story

Walker & Dunlop's Appel

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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  • ◦Financing