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Walker & Dunlop's New York capital markets team arranged $388.4 million in financing for The Brook, a two-building luxury mixed-use development in downtown Brooklyn

Walker & Dunlop Arranges $388M BofA Financing for Brooklyn Luxury Development 

Walker & Dunlop, Inc.’s New York capital markets team structured approximately $388.4 million in financing from Bank of America for The Brook, a 448,000-square-foot development with luxury, mixed-use multifamily and retail space in Downtown Brooklyn.  

The team of Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Sean Bastian was retained by Witkoff and Apollo Commercial Real Estate Finance, Inc to arrange the financing. The Brook will be split between two development sites, with the larger “Eastern Site” at 565 Fulton St. and the “Western Site” at 547-557 Fulton St. 

“As one of the most highly-coveted development sites within Downtown Brooklyn, The Brook represented a once-in-a-generation opportunity to develop an unparalleled mixed-use project at the focal point of Downtown Brooklyn’s ongoing development boom,” said Appel. “Having played a part in financing nearly 35% of Downtown Brooklyn’s recent developments, we are proud to add this one to the list.”

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Walker & Dunlop's Appel

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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