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Walker & Dunlop Arranges $163M Refi on Flatiron District Offices

Walker & Dunlop, Inc. arranged a $163,427,059 permanent loan to refinance 122 Fifth Ave., a 278,000-square-foot, Class A mixed-use office and retail property located in Manhattan’s Flatiron District. The firm arranged the loan on behalf of Bromley Companies, the longtime owner and developer of the property. 

Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, Christopher de Raet and Jack Krentzman of Walker & Dunlop Capital Markets Institutional Advisory arranged the fixed-rate, interest-only financing from Helaba Bank and Deka-Bank. The loan will refinance the existing debt on the property.

Recently revitalized through a $107-million capital improvement program, 122 Fifth Ave, is anchored by Microsoft and Chime under long-term leases. “Bromley Companies’ strategic reinvestment in 122 Fifth Ave, has elevated the building into one of Midtown South’s premier mixed-use assets,” said Appel. “This property is a top destination for leading technology, media, and creative firms shaping the Midtown South market.”

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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).

  • ◦Financing