Steiner NYC is getting a $148.5 million loan from Walker & Dunlop so it can refinance its eight-acre land mixed-use property in the Brooklyn Navy Yard, which is currently going through a redevelopment.
Admirals Row spans 696,000 square feet and is home to the first Wegmans supermarket in a New York City submarket. Admirals Row also includes 350,000 square feet of manufacturing and light industrial space, more retail space, parking that can hold more than 700 spots, and a community facility. Brooklyn Navy Yard Development Corporation has a master lease for the manufacturing portion.
"The ongoing redevelopment of the historic Brooklyn Navy Yard, particularly with the construction of Admirals Row, has brought thousands of new jobs and services to the community," Doug Steiner, chairman of Steiner NYC, said in a statement.
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