Luxury apartment building in Yonkers receives $ 160 million funding from Walker & Dunlop

BETHESDA, MD and YONKERS, NY – November 22, 2021 – Walker & Dunlop, Inc. Last week, she structured a $ 160,000,000 financing for Sawyer Place, a newly constructed Class A multi-family building located in the booming Yonkers neighborhood of New York. Completed in 2020, the property consists of two connected towers comprising 438 beautifully designed rental units and approximately 31,000 rentable square feet of retail on the ground floor.

Luxury apartment building in Yonkers receives $ 160 million funding from Walker & Dunlop

Aaron Appel, Jonathan schwartz, Keith kurland, Adam schwartz, Michael Ianno and Sean Bastian led the Walker & Dunlop team in structuring the refinance, which replaces the property’s existing construction loan. The team served as exclusive advisor to their client, RXR Realty, a vertically integrated owner, developer and operator headquartered in New York City. Drawing on their extensive network of capital providers, the team identified Mesa West Capital as the ideal lender and implemented a five-year non-recourse variable rate bridge loan.

Michael Maturo, President and Chief Financial Officer, RXR Realty. Photo courtesy of RXR Realty

RXR Realty President Michael Maturo said, “Sawyer Place has quickly become one of the most desirable rental properties in downtown Yonkers. The property has seen tremendous rental speed from residents moving into the surrounding county as well as New York City, and will continue to be a very attractive rental option for young professionals and families looking to live. in this booming Yonkers. neighborhood. ”He added,“ We ​​were delighted with the execution that the team at Walker & Dunlop in New York brought to this agreement. They found a perfect financial partner to meet our unique needs and specifications.

“We were honored to work with longtime customer RXR on Sawyer Place as one of their latest developments,” said Appel. “Downtown Yonkers is increasingly becoming an attractive destination for work and play with an arts and culture scene that is redefining the neighborhood. The capital markets have seen the value of the location and the superior amenities offered by Sawyer Place, resulting in very competitive financing.

Located just blocks from the Hudson Waterfront, Sawyer Place offers panoramic views of the Manhattan skyline, the Hudson River and the Palisades. Sawyer Place offers residents a modernized luxury experience, with unit interiors with stainless steel appliances, keyless remote control, in-home washers and dryers, and floor-to-ceiling windows. On-site facilities include a landscaped rooftop terrace, indoor theater, state-of-the-art fitness center, 24/7 concierge, resident lounge, on-site valet parking and a 533-car garage. places. The property is within a three-minute walk of the Yonkers-North subway station, providing a smooth ride to Manhattan, and is also close to five major freeways, providing access to the rest of Westchester County, County of Fairfield and New York City.

Walker & Dunlop was the leading provider of capital to the U.S. multi-family market in 2020, completing $ 31 billion in transactions and lending over $ 24 billion for multi-family properties. With one of the strongest networks in the industry, the company also had $ 11 billion in brokerage loan origination in 2020, a 6% increase from 2019. For more information on properties multifamily available for sale through the Walker & Dunlop investment sales platform, visit our website.

About Walker & Dunlop

Walker and Dunlop (NYSE: DEO) is the largest provider of capital to the multi-family industry in the United States and the fourth largest lender on all commercial real estate, including industrial, office, retail and hospitality. Walker & Dunlop empowers real estate owners and operators to bring their vision of communities to life – where Americans live, work, shop and play. The power of our people, our premier brand and cutting edge technology make us more insightful and valuable to our customers, delivering an unparalleled experience every step of the way. With over 1000 employees in all major US markets, Walker & Dunlop a has always been named one of Fortune’s best places to work® and is committed to making the commercial real estate industry more inclusive and diverse while create meaningful social, environmental and economic change in our communities.

SOURCE: Walker & Dunlop, Inc.

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