Brooklyn Navy Yard borrows $58M from AIG for property in Fort Greene

Brooklyn Navy Yard through the entity BNY 72, LLC as borrower signed a loan agreement with lender AIG through The Variable Annuity Life Insurance Company valued at $58 million for 1 parcel, including the tax class piers, docks, bulkheads (T2) at 652 Kent Avenue in Fort Greene. The deal closed on September 4, 2020 and was recorded on September 10, 2020.

Paul Kelly was the signatory for the borrower.

Over the past five years, there have been 148 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $37,022,140. There were 138 renovation/alteration projects (A2) applied for with a total estimated value of $60,666,034.There have been 3 new building permit applications totaling 1,199,695 square feet. There have been 2 demolition projects filed over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link