$228M loan secured for Admiral’s Row Development at Brooklyn Navy Yard

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Steiner NYC recently received a multi-million-dollar loan for Admiral’s Row Development at Brooklyn Navy Yard.

M&T Bank and Bank of New York Mellon loaned Steiner $228 million to finance construction for Admiral’s Row, a mixed use project being developed at the southwest corner of the shipbuilding hub, according to Commercial Observer.

Wegman’s supermarket will occupy 75,000 square feet of the new development at the intersection of Flushing Avenue and Navy Street. The facility will also include 85,000 square feet of additional retail space, 435 parking spaces as well as 266 surface parking spaces, 356,000 square feet of light industrial and creative office space leased to the Brooklyn Navy Yard Development Corporation and a 5,000-square-foot community facility.

Construction is expected to be completed by early 2021.

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