Dealmaker: Walker & Dunlop Secures $238M for New York Mixed-Use Community

(Illustration courtesy of Edge-on-Hudson)

Walker & Dunlop, Bethesda, Md., arranged $237.5 million in financing for a transit-oriented mixed-use community and a five-story condominium located within the Edge-on-Hudson development along the Hudson River in Sleepy Hollow, N.Y.

The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Sean Reimer, Dustin Stolly, Jordan Casella, Christopher de Raet and Stanley Cayre, arranged the refinancing package for King Street Capital Management and Biddle Real Estate Ventures. Hudson Bay Capital provided the funding.

Edge-on-Hudson is a 70-acre mixed-use development 25 miles north of Manhattan in Sleepy Hollow. The project will include 1,177 residential units, 135,000 square feet of retail space, 35,000 square feet of office space, a 140-room boutique hotel and more than 16 acres of parkland.

Designed as a sustainable, walkable community with river views, Edge-on-Hudson is transit-oriented, with access to Manhattan via two nearby Metro-North stations.

The Daymark, located on the southwest parcel of the Edge-on-Hudson community, is a waterfront five-story condominium offering 100 residences across 175,735 square feet. The building includes one-, two- and three-bedroom units as well as townhome-style residences and 9,120 square feet of retail space. Since construction began in summer of 2022, the property has experienced strong demand, with more than 70% of the residences already under contract. First move-ins are expected in September 2025.