Walker & Dunlop Arranges $293.2 Million Refinancing for Meatpacking District Mixed-Use Property With Corebridge Financial

Walker & Dunlop has arranged $293,200,000 in fixed-rate, permanent debt to refinance 40 Tenth Avenue, a 158,957-square-foot mixed-use property in Manhattan's Meatpacking District, the firm announced Sept. 17. Corebridge Financial served as lender on the transaction, with Aurora Capital Associates and William Gottlieb Real Estate as the borrowing sponsors.

Deal Structure and Advisory Team

Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor to Aurora Capital Associates and William Gottlieb Real Estate. The financing team included Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Jordan Casella, and Stanley Cayre.

"40 Tenth Avenue stands out in building quality, location and experience, all elements that differentiate a property for tenants," said Dustin Stolly, senior managing director of Capital Markets Institutional Advisory at Walker & Dunlop. "The fully leased office component, institutional tenant roster and substantial outdoor space demonstrate the continued demand for high-touch, well-located workplaces in New York. We valued the opportunity to collaborate with Aurora Capital on a financing that supports its long-term plans for the property."

The loan equates to approximately $1,844 per square foot based on the property's 158,957 square feet of rentable area.

Property Overview: 40 Tenth Avenue

Completed in 2019 and designed by Studio Gang, 40 Tenth Avenue sits along the West Side Highway between West 13th and West 14th Streets. The building comprises 112,241 square feet of office space across floors three through 10 and 46,716 square feet of retail space on the ground and second floors.

Hyundai Motor occupies the entire retail component. Office tenants include Starwood Capital Group, WestCap Management, RTW Investments, Stripes, and Checkout.com. The office component is fully leased.

The property features more than 18,000 square feet of landscaped private outdoor space, including an approximately 10,000-square-foot rooftop terrace and an approximately 8,000-square-foot planted second-floor terrace adjacent to the High Line.

Location and Submarket Context

40 Tenth Avenue is situated in the Meatpacking District, which the firm describes as one of Manhattan's most supply-constrained office and retail submarkets. The property is adjacent to the High Line and near Little Island, Hudson River Park, and the Whitney Museum of American Art. It also provides access to the 14th Street-Eighth Avenue transit hub, served by the A, C, E, and L subway lines.

The Meatpacking District sits within Manhattan's broader Midtown South office market. The submarket's limited new construction pipeline has kept available inventory tight, a dynamic that supports the credit profile of well-located, fully leased assets like 40 Tenth Avenue.

Corebridge Financial, a large U.S. life insurer and asset manager formerly part of AIG's life and retirement business, provided the long-term permanent capital.

Walker & Dunlop Capital Markets Activity

In 2025, Walker & Dunlop's Capital Markets team sourced more than $22 billion from non-agency capital providers, including nearly $16 billion for multifamily properties. The firm is publicly traded on the New York Stock Exchange under the ticker WD.

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Walker & Dunlop — $293.2 Million Refinancing Arranged For Mixed-Use Property In Manhattan's Meatpacking District