The $203 million-plus financing for an East Village mixed-use multifamily project that surfaced in yesterday's Deal Sheet coverage has now closed, according to Law360's reporting on Walker & Dunlop's arrangement. Multiple outlets have put the number at $203 million, $203.5 million, and $204 million across different reports — call it roughly $204 million, since the sources don't agree to the dollar.
What's new today isn't the deal itself — we flagged the Bisnow Deal Sheet item and the original Walker & Dunlop release yesterday — it's confirmation that the loan actually closed, per Law360's separate report citing the completed transaction. SK Development and Kinsmen Property are the sponsors behind the project, per Globest's reporting, with Douglas Elliman handling other recent condo work in the same neighborhood pattern this week.
For a GC or sub working lower Manhattan, a closed construction loan is the signal that actually matters — not the announcement, the close. Financing announcements get walked back; closed loans get built. The project is a mixed-use multifamily build in the East Village, with unit counts reported between 184 and 194 depending on the outlet.
If you're chasing pre-construction work in that corridor, the closing is your cue to start tracking DOB permit activity at the site — that's typically where the next hard date shows up.