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**Walker & Dunlop Secures $163M Refinance for 122 Fifth Avenue in Manhattan**
Walker & Dunlop, Inc. has successfully arranged a $163,427,059 permanent loan to refinance 122 Fifth Avenue, a 278,000-square-foot, Class A mixed-use office and retail building in Manhattan’s Flatiron District. The financing was secured on behalf of the Bromley Companies, the long-time owner and developer of the property.
The transaction was led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, Christopher de Raet, and Jack Krentzman of Walker & Dunlop Capital Markets’ Institutional Advisory team. The interest-only, fixed-rate financing was provided by Helaba Bank and DekaBank and will be used to refinance the property’s existing debt.
122 Fifth Avenue recently underwent a $107 million capital improvement program, transforming it into a premier destination for technology, media, and creative companies. The building is anchored by long-term leases with leading firms including Microsoft and Chime.
“Bromley Companies’ strategic reinvestment in 122 Fifth Avenue has elevated the building into one of Midtown South’s premier mixed-use assets,” said Aaron Appel. “This property is a top destination for leading technology, media, and creative firms shaping the Midtown South market.”
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