The Walker Hotel, located at 396 Broadway in Tribeca, New York, has secured a $57 million construction loan from BofI Federal Bank. The property, currently owned by Bridgeton Holdings, will undergo development to transform it into an office space. The loan amount will be used to fund the construction and renovation efforts.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $57M
• Lender: BofI Federal Bank
• Landlord: Bridgeton Holdings

The financing deal was arranged by the team at Newmark Knight Frank, consisting of Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Bob. Their expertise in the New York real estate market played a crucial role in securing the loan for the Walker Hotel's transformation into an office space. This collaboration between the lender and Bridgeton Holdings signifies the potential growth and development opportunities in the Tribeca area.