Walker & Dunlop Arranges $228.9 Million Refinancing for 100-Year-Old Manhattan Landmark
Walker & Dunlop, Inc. announced today that it arranged $228.9 million in financing to refinance a newly redeveloped, 19-story Class A office tower in Manhattan's Midtown South submarket. Better known as the Textile Building, 295 Fifth Avenue is a more than 100-year-old landmark that long served as a hub of New York City's textile industry.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720509572/en/
295 Fifth Avenue. Photo Credit: PGIM
Walker & Dunlop Capital Markets Institutional Advisory served as an exclusive advisor to the joint venture consisting of PGIM, Tribeca Investment Group, and Meadow Partners. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Brown, Christopher de Raet, and Jack Krentzman arranged the floating-rate, interest-only bridge loan with capital provided by a joint venture between Rialto Capital Management LLC and Hines.
Following a comprehensive redevelopment, the historic property has been transformed into a 707,181-square-foot Class A office tower. The building is leased to premier tenants including Bridgewater Associates, the world's largest hedge fund, and Quinn Emanuel, one of the world's leading litigation firms, underscoring its position as one of Manhattan's premier office destinations.
"295 Fifth Avenue exemplifies the type of high-quality, well-positioned office asset that continues to attract strong tenant demand in Midtown South," said Stolly, senior managing director of Capital Markets Institutional Advisory at Walker & Dunlop. "We are grateful for the opportunity to work with our clients on this financing and help support the continued success of a landmark property thoughtfully reimagined for today's office market. With its premier tenant roster and location in one of Manhattan's most active and supply-constrained office corridors, the property is exceptionally positioned to benefit from continued demand for high-quality office space."
Located on Fifth Avenue and occupying the full city block between 30th Street and 31st Street, 295 Fifth Avenue sits in one of Manhattan's most sought-after office submarkets. Surrounded by premier dining, retail, hospitality, and recreational amenities, including Madison Square Park, the property offers tenants a highly amenitized work environment. The building is within a 10-minute walk of both Grand Central Terminal and Penn Station, providing access to 16 subway lines, the Long Island Railroad, Metro-North Railroad, Amtrak, and NJ Transit, while also benefiting from its proximity to the residential neighborhoods of NoMad, Gramercy, Chelsea, and Murray Hill.
In 2025, Walker & Dunlop’s Capital Markets team sourced over $22 billion from non-Agency capital providers, including nearly $16 billion for multifamily properties. This vast experience has made them a top advisor on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s broad financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE:WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260720509572/en/
Media:
Nina H. von Waldegg
Public Relations
Phone 301.564.3291
nhvwaldegg@walkerdunlop.com