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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Walker & Dunlop arranged $203.5 million in construction financing for 50 Third Avenue, a planned mixed-use multifamily development at East 11th Street and Third Avenue in Manhattan’s East Village. The project is planned to include 184 residential units and 12,529 square feet of ground-floor retail.
What the financing covers
The October 12, 2026 announcement describes the financing as a floating-rate, interest-only construction loan arranged through Ironsand. Walker & Dunlop Capital Markets Institutional Advisory acted as exclusive advisor to the project’s joint-venture partners, SK Development and Kinsmen Property Group.
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The arrangement was handled by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer and Sean Bastian. The announcement does not disclose the loan’s interest rate, maturity or loan-to-cost ratio, so those terms cannot be assessed from the published figures.
Planned building and housing
The announced project comprises 184 residential units and 12,529 square feet of ground-floor retail. Walker & Dunlop Senior Managing Director and New York Capital Markets Co-Head Aaron Appel characterized it as combining market-rate and affordable housing, amenities and retail. The announcement does not state how many units fall into either housing category, nor does it provide the unit mix or detail the amenities.
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Those figures describe the planned development; they do not establish a construction completion date. The announcement provides no delivery schedule.
What remains undisclosed
The public announcement gives the financing amount and broad structure, but not enough information to calculate the project’s leverage or financing cost. It also does not specify the loan maturity, project completion date, unit mix or affordable-unit count. These details should not be inferred from the floating-rate, interest-only structure.
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Walker & Dunlop’s October 12, 2026 announcement, republished by Yahoo Finance, reports the transaction and project figures.
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