Walker & Dunlop closes $155M refi for NYC’s The Lexington Hotel

International news
Walker & Dunlop Inc. (W&D) has arranged a $155-million refinancing deal for The Lexington Hotel, a historic landmark in Midtown Manhattan. 

Acting as the exclusive advisor to Lexington Hotel Owner LLC, a joint venture between MCR, Island Capital Group LLC and Three Wall Capital, Walker & Dunlop secured the financing through lender Hudson Bay Capital.

Initially completed in 1929, The Lexington Hotel has undergone extensive renovations and conversions over the years, culminating in its transformation into a Marriott Autograph Collection hotel in 2013. The hotel was acquired by the sponsors in 2021.

The 28-story hotel, located at the corner of Lexington Ave. and 48th St., has 725 keys, including six specialty suites, such as the Norma Jeane Suite, where Marilyn Monroe lived with then-husband Joe DiMaggio. Amenities include The Stayton Room bar and restaurant and 3,000 sq. ft. of meeting space. Guests also have access to the Crunch Fitness located next to the lobby at no additional cost.