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New York & Tri-State  + Outer  + Finance  |  November 26, 2024
Paul Bubny
By: Paul Bubny

Walker & Dunlop Arranges $148M Refi for Steiner at Brooklyn Navy Yard

Walker & Dunlop, Inc. 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.

The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Diaz and William Herring, represented Steiner. They identified Deutsche Bank as the bridge loan lender to refinance the existing debt.

Admirals Row includes the first Wegmans supermarket in New York City, more than 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.

“We commend Steiner for their exceptional sponsorship and unwavering commitment to the development of this vital area,” said Jonathan Schwartz. “Their ownership and operation of Steiner Studios in the Brooklyn Navy Yard further highlights their dedication to fostering growth and innovation in the community.”

Read More News Stories About: Walker & Dunlop
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Walker & Dunlop's Jonathan Schwartz

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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