Walker & Dunlop Arranges $163 Million Loan for Revitalized Manhattan Mixed-Use Property

Key Terms

leed technical

A LEED certification is a widely recognized rating that evaluates how energy-efficient and environmentally friendly a building is, like an energy- and sustainability report card for real estate. Investors care because higher ratings often mean lower operating costs, stronger tenant demand, potential tax or regulatory benefits, and better resale value — all of which can influence a property’s income and long-term return.

BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it 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.

122 Fifth Avenue. Photo Credit: Bromley Companies

Walker & Dunlop Capital Markets Institutional Advisory arranged the loan on behalf of Bromley Companies, longtime owner and developer of the property. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, Christopher de Raet, and Jack Krentzman, 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 now 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, the property demonstrates strong demand for premium, well-located office assets.

“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.”

Located between West 17th and 18th Streets, 122 Fifth Avenue offers tenants immediate access to Union Square, Madison Square Park, and a variety of transit options. A three-minute walk from Union Square Station connects to multiple subway lines and bus routes, while the 14th Street & 6th Avenue Station provides F, M, L, and PATH trains to New Jersey. The property is steps from premier parks, top-tier restaurants, and lifestyle amenities, and is surrounded by a dense concentration of innovative and established corporate neighbors within a ten-minute walk, enhancing its appeal to leading tenants.

In 2024, Walker & Dunlop’s Capital Markets team sourced over $16 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s broad financing options, visit our website.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251216225535/en/

Investors:

Kelsey Duffey

Investor Relations

Phone 301.202.3207

investorrelations@walkeranddunlop.com



Media:

Nina H. von Waldegg

VP, Public Relations

Phone 301.564.3291

nhvwaldegg@walkerdunlop.com

Phone 301.215.5500

7272 Wisconsin Avenue, Suite 1300

Bethesda, Maryland 20814

Source: Walker & Dunlop, Inc.