Walker & Dunlop, Inc. has successfully secured a $148.5 million loan to refinance Admirals Row, an eight-acre mixed-use property in the Brooklyn Navy Yard developed by Steiner NYC. The New York Capital Markets team at Walker & Dunlop, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz Michael Diaz and William Herring represented Steiner and identified Deutsche Bank as the bridge loan lender for this project.
Admirals Row encompasses 696 square feet of space and features a variety of uses including the first Wegmans supermarket in New York City. Additionally,it includes over 350 square feet of light industrial and creative manufacturing space that is master-leased to the Brooklyn Navy Yard Development Corporation along with retail space,a community facility,and both surface and structured parking.
Jonathan Schwartz praised Steiner’s commitment to developing this important area,saying,”We commend their exceptional sponsorship for this project as well as their unwavering dedication towards fostering growth,inclusion,and innovation within our community.” With its ownership and operation of Steiner Studios also located within the Brooklyn Navy Yard,this further highlights their commitment towards these values.
