Kayne Anderson Capital Advisors borrows $11M from PNC Bank for property in Brownsville

Kayne Anderson Capital Advisors through the entity Wicnn Brooklyn, LLC as borrower signed a loan agreement with lender PNC Bank valued at $10.9 million for 1 parcel, including the tax class light manufacturing building (F5) at 252 Newport Street in Brownsville. The deal closed on October 15, 2019 and was recorded on October 23, 2019.
The property contains a total of 55,808 square feet of built space.
The average loan per buildable square foot is $195.
The last time the property sold was November 12, 2015, for $7,800,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on June 25, 2019.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $3,900,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $105,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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