Updated Jul 28, 2026
Joseph Margolis Of Extra Space Storage Secures $7.3M Refinance Loan From Joseph Bae Of KKR
252 Newport Street
$7,300,000
$105/SF
Building Size
69,000 SF
Asset Type
Industrial
Closing
Jul 14, 2026
About this deal
AI
Extra Space Storage refinanced an industrial property located at 252 Newport Street, Brownsville, Brooklyn, comprising 69,000 square feet. The loan secured amounts to $7,300,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,300,000
- Lender: Joseph Bae - KKR
- Landlord: Joseph Margolis - Extra Space Storage
- Loan Type: Refinance
The refinancing transaction involves Joseph Bae representing KKR entity Kcore Lending I, L.P., while Joseph Margolis represents Extra Space Storage in this deal.
The industrial loan at 252 Newport Street in Newport, New York financed for $7.3M in 2026. The building is 69,000 square feet, implying about 105 per square foot on the published price. Named participants on the 252 Newport Street loan are Joseph Bae, Joseph Margolis. This page is the Newport, New York file for the 252 Newport Street industrial financed: pricing, party profiles, and other closed industrial comps from the same Newport sit in the Market section below. Filter that Newport industrial set by closing date to see what else financed near 252 Newport Street around 2026. Published consideration for 252 Newport Street is $7.3M, dated 2026. Cite this Joseph Margolis Of Extra Space Storage Secures $7.3M Refinance Loan From Joseph Bae Of KKR loan when underwriting similar industrial product around Newport, New York.
Players
Newport Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93