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New York & Tri-State  + Fairfield/Westchester  + Finance  | 
Sawyer Place Apartments Yonkers NY

Walker & Dunlop Team Structures $160M Refi on RXR’s Yonkers Rentals

Walker & Dunlop, Inc. structured $160,000,000 in financing for Sawyer Place, a recently built, Class A multifamily building in Yonkers, NY. Completed in 2020, the property consists of two connected towers with 438 rental units and ground-floor retail. 

Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno and Sean Bastian led Walker & Dunlop’s team in structuring the refinance, which replaces the property’s existing construction loan. The team served as exclusive advisor to their client, RXR Realty, and identified Mesa West Capital as the ideal lender and arranged a five-year, floating rate non-recourse bridge loan. 

“”Downtown Yonkers is increasingly becoming a desirable live-work-play destination with an artistic and cultural scene that is redefining the neighborhood,” said Appel. “The capital markets saw the value in the location and the superior amenities offered by Sawyer Place, resulting in a very competitive financing.” 

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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).

  • ◦Financing