Walker & Dunlop, Inc. successfully arranged a $103 million CMBS loan for the refinancing of Casa Cipriani, a boutique hotel and event space located in New York City’s Financial District. The loan was secured through partnerships with Citigroup, JP Morgan, and Argentic.
Originally known as the Battery Maritime Building, Casa Cipriani underwent redevelopment in 2021 to become a luxury destination featuring a hotel, members club, and event space. Led by Aaron Appel of Walker & Dunlop’s Capital Markets team, clients Cipriani,Midtown Equities,and Centaur Properties were advised on this transaction.
According to Appel,”Casa Cipriani is an exceptional asset that stands out as one of NYC’s premier destinations.” Despite challenges faced by the capital markets,the property’s high quality and strong performance attracted competitive financing options.”The outstanding product delivered by our clients coupled with the impressive economic performance of this property resulted in a highly competitive financing process despite current market conditions.”
This successful refinancing deal highlights Walker & Dunlop’s expertise in arranging complex transactions for top-tier properties like Casa Cipriani without mentioning any specific company names or locations.
