Walker & Dunlop Arranges $203 Million in Financing for East Village Mixed-Use Multifamily Property

BETHESDA, Md.--(BUSINESS WIRE)--Oct 12, 2026--

Walker & Dunlop, Inc. announced today that it has arranged $203,500,000 in construction financing for the development of 50 Third Avenue, a 184-unit mixed-use multifamily development with 12,529 square feet of ground-floor retail at the crossroads of 11th street and Third Avenue in Manhattan’s East Village.

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Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor to joint venture partners, SK Development and Kinsmen Property Group. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, and Sean Bastian arranged the floating rate, interest only loan through Ironsand.

“The East Village combines exceptionally limited new housing supply with sustained renter demand, creating compelling fundamentals for a project of this caliber,” said Appel, senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop. “Vacancy in the neighborhood remains low while proximity to major employment centers and the area’s appeal to young professionals and high-income renters continue to support demand. This financing provides SK Development and Kinsmen Property Group with the capital needed to bring 50 Third Avenue to market at a time when new housing remains particularly constrained.”

The proposed 17-story development will include two adjoining Class A residential buildings. 37 residences will be designated as affordable for households earning 80% or less of area median income (AMI). Residents will have access to a comprehensive amenity program that includes a fitness center, yoga studio, sauna, cold plunge, golf simulator, coworking space, resident lounge and curated common terraces. The ground-floor retail space will feature prominent Third Avenue frontage, visibility and pedestrian traffic suited to food and beverage and service-oriented tenants.

“50 Third Avenue is positioned to become a marquee luxury multifamily development in a submarket that continues to attract institutional investment,” said Scott Shnay, principal at SK Development. “The financing arranged by Walker & Dunlop allows us to execute our long-term vision for the property: delivering thoughtfully designed housing, a substantial affordable component and a high-quality residential experience in one of Manhattan’s most established neighborhoods.”

Located in Manhattan’s East Village, 50 Third Avenue benefits from one of New York City’s most supply-constrained markets. The submarket had a vacancy rate of approximately 2.0% and average asking rents of approximately $5,440 per month as of June 2026, underscoring strong demand for housing in the neighborhood. The property also benefits from its proximity to New York University, major Manhattan employment centers and the East Village’s extensive dining, retail, entertainment and transportation options.

“50 Third Avenue presented an opportunity to finance a well-conceived development backed by an experienced ownership team in a market with significant barriers to new construction,” said Brian Renzi, managing principal at Ironsand. “The combination of market-rate and affordable housing, thoughtfully designed amenities and a prominent retail component create a differentiated project, and we were glad to support Walker & Dunlop, SK Development, and Kinsmen Property Group through construction and delivery.”

In the first half of 2026, Walker & Dunlop’s Capital Markets team sourced over $13.9 billion from non-Agency capital providers, including nearly $9.6 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.

50 Third Avenue. Photo Credit: Beyer Blinder Belle Architects

NEW YORK (AP) — Actor Selma Blair was arrested after she was accused of injuring two flight attendants on a trip from Los Angeles to New York. She was also charged Monday with assaulting a police officer taking her to the hospital and a nurse after she arrived there.

Blair, 54, was detained by police at around 11 p.m. Sunday after the Delta Air Lines jet parked at the gate at John F. Kennedy International Airport, the Port Authority of New York and New Jersey said in a statement.

Blair and one of the flight attendants were taken to a hospital for evaluation, the Port Authority said.

A police officer taking her to Jamaica Hospital Medical Center said in charging documents that while she was securing Blair to a stretcher, Blair pulled a leg from the straps and kicked her repeatedly around the face, neck and chest, causing serious pain and substantial swelling. Later, a nurse moving Blair said the actor kicked her in the chest, causing substantial pain.

A Blair representative told The Associated Press that the actor had a medical emergency that led to the alleged conduct.

She was arraigned on two counts of second-degree assault late Monday at a court in Queens, where a judge set her bail at $20,000 cash or $60,000 bond and set the next hearing for January. She left court with her lawyers, wearing jeans, a white hooded sweatshirt, and sunglasses.

Details of what happened aboard the aircraft weren’t immediately disclosed by the airline, police or the FBI, which was investigating, but Delta said in a statement it “has zero tolerance for unruly or unlawful behavior, as the safety of our customers and crew always comes first.”

In air traffic communications, the Delta pilot asks the tower to have medical personnel waiting at the gate to treat bite marks and a bloody nose, but says ambulances were not necessary.

“It sounds like the disruptive passenger also bashed her head on the bulkhead or something like that,” the pilot told the tower, according to audio posted on the ATC app. “So we’ll obviously have to get her potentially checked out as well as involved with law enforcement.”

The FBI also issued Blair a notice charging her with assault related to her actions aboard the aircraft, according to a federal law enforcement official who spoke to The Associated Press on condition of anonymity because they weren’t authorized to speak publicly about the matter.

Those charges will be handled through the petty violations court in federal court in Brooklyn. No date has been set for Blair’s appearance.

It's not the first time Blair has had issues aboard a plane. In 2016, Blair apologized for making statements she later regretted during a flight from Cancun to Los Angeles. She said she had mixed alcohol with medication, causing her to black out.

Blair had major roles in films including 1999's “Cruel Intentions,” 2001's “Legally Blonde” and 2004's “Hellboy.”

In recent years, she has advocated for disability rights. She was diagnosed with multiple sclerosis in 2018. In 2023, she joined President Joe Biden at the White House to celebrate the anniversary of the Americans with Disabilities Act.

Yamat reported from Las Vegas and Dalton from Los Angeles. AP Transportation Writer Josh Funk also contributed to this report.

Selma Blair leaves court on Monday, Oct. 12, 2026, in New York after her arraignment on charges of injuring two flight attendants during a cross-country flight. (AP Photo/Ryan Murphy)

Selma Blair leaves court on Monday, Oct. 12, 2026, in New York after her arraignment on charges of injuring two flight attendants during a cross-country flight. (AP Photo/Ryan Murphy)

Selma Blair leaves court on Monday, Oct. 12, 2026, in New York after her arraignment on charges of injuring two flight attendants during a cross-country flight. (AP Photo/Ryan Murphy)

Selma Blair leaves court on Monday, Oct. 12, 2026, in New York after her arraignment on charges of injuring two flight attendants during a cross-country flight. (AP Photo/Ryan Murphy)

Selma Blair leaves court on Monday, Oct. 12, 2026, in New York after her arraignment on charges of injuring two flight attendants during a cross-country flight. (AP Photo/Ryan Murphy)