DH Property Holdings has secured $88 million from Athene, a subsidiary of Apollo Global Management, to refinance and improve the property at 1900 South Avenue in Staten Island, New York.  

The property is the largest privately-owned industrial site in New York City. It offers tri-modal access, including a railroad track connection, a waterfront steel bulkhead dock, and direct interstate access. DH Property Holdings acquired the property in December 2020, City Asphalt and Insurance Auto Auctions currently leasing over 80% of the site.  

“The property provides enormous flexibility and future opportunity, which enabled us to secure competitive financing at a time where capital is harder to come by,” said Dov Hertz, founder and president of DH Property Holdings. “We have seen continued momentum for Industrial Outdoor Storage in the market.” Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Ianno arranged the transaction.