WISE 1506+7027 was discovered in 2011 from data collected by the Wide-field Infrared Survey Explorer (WISE) in the infrared at a wavelength of 40 cm (16 in), whose mission lasted from December 2009 to February 2011.

In 2011, Kirkpatrick and colleagues published a paper in The Astrophysical Journal Supplement, where they presented discovery of 98 new found by WISE brown dwarf systems with components of spectral types M, L, T and Y, among which also was WISE 1506+7027.

[2][note 2] The first trigonometric parallax of WISE 1506+7027, which was published in 2013 by Marsh et al., is 0.310″±0.042″, corresponding to a distance 3.4+0.7−0.4 pc, or 11.1+2.3−1.3 ly.

[5] The Gaia spacecraft determined an updated parallax of 193.5 milliarcseconds leading to a distance of 16.85 light years.

[1] WISE 1506+7027 has a large proper motion of about 1,623 milliarcseconds per year.