BETHESDA, Md. — Walker & Dunlop has arranged a $137.5 million refinancing for 12 Halsey, a newly completed mixed-use multifamily development in Brooklyn’s Bedford-Stuyvesant neighborhood, highlighting continued lender demand for newly built apartment communities in New York City.
Walker & Dunlop’s Capital Markets Institutional Advisory team served as the exclusive financial advisor to EJS Group and Hope Street Capital in securing the three-year, floating-rate loan from AllianceBernstein.
The refinancing was led by Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims.
“Demand for newly constructed multifamily assets in New York City remains exceptionally strong, particularly for properties that combine high-quality execution, affordability and transit-oriented locations,” said Aaron Appel, senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop. “12 Halsey represents exactly the type of institutional-quality asset that continues to attract significant lender interest.”
Completed in October 2025, 12 Halsey includes 240 apartments, with 30% of the units designated as affordable under New York’s Affordable New York (421-a) program. The development also features approximately 2,400 square feet of ground-floor retail space.
The property occupies a full cross-block site between Fulton and Halsey streets and is located adjacent to the A and C subway lines, providing direct access to destinations throughout Brooklyn and Manhattan.
Ted Segal, president of EJS Group, said the project reflects the developer’s long-term focus on creating mixed-use communities that expand housing opportunities while strengthening surrounding neighborhoods.
“We’re grateful to AllianceBernstein and Walker & Dunlop for their partnership and execution throughout the financing process,” Segal said.
The transaction comes as lenders continue to show strong interest in high-quality multifamily properties in major urban markets, particularly developments that incorporate affordable housing components and benefit from transit-oriented locations.
Walker & Dunlop said its Capital Markets platform sourced more than $22 billion in financing from non-agency capital providers in 2025, including nearly $16 billion for multifamily properties, reflecting continued institutional demand for apartment investments despite a higher interest rate environment.
