Walker & Dunlop has secured a $158 million construction loan for the development of 401 E. 51st St., an upscale condominium project in Manhattan’s Turtle Bay neighborhood. The financing was arranged by the W&D New York Capital Markets team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer and Sean Bastian on behalf of CBSK Developers.
The project is located between First Avenue and Beekman Place and will consist of 83 high-end units spread across 26 stories. The unit mix includes studios, one-bedrooms,two-bedrooms with offices , three-bedrooms,four-bedrooms,and a five-bedroom penthouse spanning over116000 square feet.
Residents will have access to various amenities such as a state-of-the-art fitness center,resident lounge,private dining area,and proximity to numerous restaurants,bars ,retail options,and galleries in the vibrant neighborhood according to Walker & Dunlop.
