HH Realty Equities signs $25M refi loan with UBS for industrial in Red Hook

HH Realty Equities through the entity 80 Richards Owner, LLC as borrower signed a refi loan with lender UBS Group AG valued at $25 million for two industrial building including the industrial (F1) at 80 Richards Street in Red Hook, Brooklyn and industrial (F4) at 76 Verona Street in Red Hook, Brooklyn.
The deal closed on June 11, 2021 and was recorded on June 29, 2021.
The two properties have 146,650 square feet of built space and 0 square feet of additional air rights for a total buildable of 52,983 square feet according to PincusCo analysis of city data. The loan price per built square foot is $170 per the PincusCo analysis.
The signatory for HH Realty Equities was Ariel Akkad.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $1.6 million.
Ariel Akkad is director of real estate at HH Realty.
Within a 400-foot radius of 80 Richards Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Acuity Capital Partners borrowed $31.5 million from Northwind Group secured by 35 Delavan Street and two other properties on December 28, 2020.

Direct link to Acris document. link