New York & Tri-State + Midtown New York + Finance | July 13, 2022

Walker & Dunlop Arranges $754M Financing on Crown Building Hotel and Residential

Walker & Dunlop structured $754,000,000 in financing for Aman New York, a luxury hotel and residence development occupying the top 20 floors of the 100-year-old Crown Building at 730 Fifth Ave. In Midtown Manhattan. The Aman New York was developed by the OKO Group and represents Aman’s first US urban residence project.

Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz led Walker & Dunlop’s team in structuring the debt financing from JPMorgan Chase. The three-year financing included a bridge loan and a condo inventory loan.

“We’re excited to have worked with the OKO and Aman teams on this world-class asset,” said Kurland. “Their unparalleled vision to deliver a seven-star hotel and residences has truly come to fruition.”

The 95,000-square-foot residential section of the development includes 22 exclusive residences, while the 117,000-square-foot hotel portion contains 83 guest rooms and suites. The hotel is slated to open August 2.

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Walker & Dunlop's Kurland

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).

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