BETHESDA, Md.--(BUSINESS WIRE)--Nov 25, 2024-- Walker & Dunlop, Inc. announced today that it arranged $148.
5 million in loan proceeds to refinance Admirals Row, a 696,000 square foot, eight acre mixed-use property developed by Steiner NYC in the revitalized Brooklyn Navy Yard. This press release features multimedia. View the full release here: https://www.
businesswire.com/news/home/20241125932961/en/ Admirals Row (Photo: Steiner Studios) The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz , Aaron Appel , Keith Kurland , Adam Schwartz , Michael Diaz, and William Herring, represented and acted as an exclusive advisor to Steiner. They identified Deutsche Bank as the bridge loan lender to refinance the existing debt.
Admirals Row, located at the confluence of Flushing Avenue, Navy Street, and Sands Street, includes the first Wegmans supermarket in New York City, over 350,000 square feet of light industrial and creative manufacturing space master-leased to the Brooklyn Navy Yard Development Corporation, additional retail space, a community facility, and surface and structured parking totaling over 700 spaces. The Brooklyn Navy Yard is home to over 450 businesses employing more than 12,000 people and generating over $2 billion annually in economic impact for the city. It sits just one block from the Brooklyn-Queens Expressway, is within two blocks of the Manhattan Bridge and Brooklyn Bridge, and is steps from the red-hot neighborhood of DUMBO.
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