Walker & Dunlop Inc.<\/a> has arranged $228.9 million in refinancing for 295 Fifth Avenue, a newly redeveloped Class A office tower in Manhattan\u2019s Midtown South, providing fresh capital for one of New York City\u2019s most recognizable historic office properties. The financing supports the landmark asset following its transformation from a century-old textile industry hub into a modern office building anchored by blue-chip tenants.<\/p>\nWalker & Dunlop\u2019s Capital Markets Institutional Advisory team served as exclusive advisor to the ownership joint venture of PGIM, Tribeca Investment Group, and Meadow Partners. The financing was structured as a floating-rate, interest-only bridge loan provided through a joint venture between Rialto Capital Management LLC and Hines.<\/p>\n
The financing reflects continued lender interest in high-quality office assets that combine prime locations, modernized space, and established tenant rosters despite broader challenges facing the U.S. office market. By refinancing the recently redeveloped property, the ownership group has secured capital for a fully repositioned asset in one of Manhattan\u2019s most active office corridors.<\/p>\n
Originally constructed more than 100 years ago, the Textile Building has long been associated with New York City\u2019s garment and textile industry. Following a comprehensive redevelopment, the property now encompasses approximately 707,181 square feet of Class A office space designed to compete for premier corporate tenants in Midtown South.<\/p>\n
The building is leased to organizations including Bridgewater Associates, the world\u2019s largest hedge fund, and global litigation firm Quinn Emanuel, providing a strong occupancy profile that supports the property\u2019s long-term positioning in the Manhattan office market.<\/p>\n
\u201c295 Fifth Avenue exemplifies the type of high-quality, well-positioned office asset that continues to attract strong tenant demand in Midtown South,\u201d said Dustin Stolly, senior managing director of Capital Markets Institutional Advisory at Walker & Dunlop. He added that the property\u2019s tenant roster, redevelopment and location position it to benefit from ongoing demand for premium office space in one of the city\u2019s most supply-constrained submarkets.<\/p>\n
Occupying an entire city block between 30th and 31st Streets on Fifth Avenue, the building offers tenants access to one of Manhattan\u2019s most desirable mixed-use neighborhoods. The property is surrounded by restaurants, retail, hotels and recreational amenities, including nearby Madison Square Park, while also benefiting from its proximity to the residential communities of NoMad, Gramercy, Chelsea and Murray Hill.<\/p>\n
Transportation connectivity is another defining feature of the asset. Located within a 10-minute walk of both Grand Central Terminal and Penn Station, the building provides access to 16 subway lines, the Long Island Rail Road, Metro-North Railroad, Amtrak and NJ Transit, making it accessible to commuters from across the New York metropolitan area.<\/p>\n
The transaction also highlights Walker & Dunlop\u2019s continued focus on arranging institutional capital for complex commercial real estate financings. In 2025, the firm\u2019s Capital Markets business sourced more than $22 billion from non-agency capital providers, including nearly $16 billion for multifamily properties, while advising developers, owners and operators across a broad range of commercial real estate asset classes.<\/p>\n
For the ownership venture, the refinancing strengthens the capital structure of a landmark property that has been repositioned for today\u2019s office market. With a modernized building, established institutional ownership and a roster of high-profile tenants, 295 Fifth Avenue is positioned to compete for continued demand in Midtown South, where well-located, amenity-rich office buildings continue to attract both occupiers and capital.<\/p>\n","protected":false},"excerpt":{"rendered":"295 Fifth Avenue. Photo Credit: PGIM Walker & Dunlop Inc. has arranged $228.9 million in refinancing for 295…\n","protected":false},"author":2,"featured_media":300533,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[75,84,83,9,24,63],"class_list":["post-300532","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/300532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=300532"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/300532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/300533"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=300532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=300532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=300532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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