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Walker & Dunlop Capital Markets Institutional Advisory recently arranged a $163,427,059 permanent loan to refinance 122 Fifth Avenue, a 278,000-square-foot, Class A mixed-use office and retail property located in Manhattan’s Flatiron District.
Led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, Christopher de Raet, and Jack Krentzman, the team arranged the loan on behalf of Bromley Companies, longtime owner and developer of the property. The team also arranged the fixed-rate, interest only financing from Helaba Bank and Deka-Bank. The loan will refinance the existing debt on the property.
“Bromley Companies’ strategic reinvestment in 122 Fifth Avenue has elevated the building into one of Midtown South’s premier mixed-use assets,” said Appel, senior managing director at Walker & Dunlop. “This transaction underscores the continued demand for fully modernized, best-in-class office properties. This property is a top destination for leading technology, media, and creative firms shaping the Midtown South market."