Walker & Dunlop announced that it arranged a $163 million 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.
Walker & Dunlop Capital Markets Institutional Advisory arranged the loan on behalf of Bromley Companies, longtime owner and developer of the property. Walker & Dunlop arranged the fixed-rate, interest-only financing from Helaba Bank and Deka-Bank. The loan will refinance the existing debt on the property.
Recently revitalized through a $107 million capital improvement program, 122 Fifth Avenue has been transformed into a landmark loft office tower with modern amenities and upgraded infrastructure. The building holds WiredScore Gold and LEED certifications and features expansive floor plans, dual lobbies, state-of-the-art systems and a rooftop pavilion with sweeping Midtown Manhattan views. Anchored by Microsoft and Chime under long-term leases,
