Walker & Dunlop’s New York Capital Markets Team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartzand Sean Bastian, as special advisors to longtime client RYCO Capital. Derby Copeland Capital provided the interest rate bridge loan only.
The nine buildings are along 2nd Avenue between St. Marks and East 10th Street. They are all 153,800 sq ft and have 171 residential units and 22 retail units.
“The New York City apartment market continues to exhibit exceptional fundamentals, with our submarket maintaining some of the lowest vacancy rates in the country,” said Jonathan Schwartz, senior managing director and co-head of New York Capital Markets at Walker & Dunlop. “We are delighted to have represented RYCO Capital, a team that we know will bring great value to this portfolio for years to come.”
The portfolio’s unique position is defined by its dynamic and energetic environment, attracting creative people and young professionals in large numbers. With a submarket vacancy rate of just 1.5%, the portfolio is positioned to accelerate a significant supply-demand imbalance in the region. The buildings are also close to New York University and surrounded by restaurants, hotels, nightlife and transportation.
“We anticipate continued strong demand for prime, renovated and well-managed units in the East City,” said James Ryan of RYCO Capital. Walker & Dunlop’s skill in financing this successful acquisition.”
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“It was a pleasure working with RYCO Capital and the Walker Dunlop team to close this loan,” said Derby Copeland Capital’s Jesse Hutcher. Our belief in New York City real estate remains strong as we continue continue to navigate and take advantage of the dynamic opportunities in this thriving market.”
In 2023, Walker & Dunlop’s Capital Markets group received capital for transactions worth nearly $12 billion from non-Group capital providers. This vast experience has made them the go-to advisor on all asset classes for many of the industry’s leading developers, owners and operators. To learn more about Walker Dunlop’s extensive financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services companies in the United States. Our ideas and capital create communities where people live, work, shop and play. The diversity of our people, the breadth of our brand and our technological capabilities make us one of the most exciting and client-focused companies in the commercial real estate industry.
Information about the company Derby Copeland Capital
See the original version on businesswire.com: https://www.businesswire.com/news/home/20240815238878/en/
Walker & Dunlop stock at the time of publication of the news with a fall of -0.53 % to 93,00EUR on Tradegate stock exchange (August 14, 2024, 10:26 pm).
2024-08-15 10:05:08
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