Walker & Dunlop Arranges $137.5 Million Refinancing for Mixed-Use Brooklyn Property With AllianceBernstein
BROOKLYN, N.Y. — Aug. 3, 2026 — Walker & Dunlop has arranged a $137.5 million refinancing for 12 Halsey, a newly completed Class A mixed-use multifamily property in the Bedford-Stuyvesant neighborhood of Brooklyn, New York. AllianceBernstein provided the three-year, floating-rate loan to borrowers EJS Group and Hope Street Capital.
Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor on the transaction. The deal team included Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno, and Cole Grims.
Property Details: 12 Halsey in Bedford-Stuyvesant
Completed in October 2025, 12 Halsey comprises 240 residential units and approximately 2,400 square feet of ground-floor retail. The property occupies a full cross-block site between Fulton and Halsey Streets and offers direct access to the A and C subway lines, connecting residents to destinations across Brooklyn and Manhattan.
Thirty percent of the building's residential units — roughly 72 of the 240 apartments — are designated as affordable under New York's Affordable New York 421-a program. The refinancing closed less than a year after the building's completion, reflecting a transition from construction or lease-up financing into a stabilized institutional loan.
At $137.5 million across 240 units, the loan implies approximately $572,900 per residential unit, a figure that positions 12 Halsey among institutional-scale multifamily assets in the New York City market.
Borrowers: EJS Group and Hope Street Capital
EJS Group is a New York City-based real estate development firm focused on ground-up multifamily and mixed-use development in the New York metropolitan area. Ted Segal serves as president of EJS Group.
In addition to 12 Halsey, EJS Group's recent and current projects include 200 East 75th Street, a boutique luxury condominium with a prewar-inspired design by Beyer Blinder Belle, and The Greenwich Spire, an approximately 500-foot-tall luxury boutique condominium featuring 34 residences at 11 West 13th Street in Greenwich Village, which the firm is developing in partnership with Legion Investment Group. EJS Group previously co-developed 150 East 78th Street, a luxury condominium designed by Robert A.M. Stern Architects.
"12 Halsey reflects our long-term commitment to developing thoughtfully designed mixed-use communities that expand housing opportunities while enhancing the surrounding neighborhood," said Ted Segal, president of EJS Group. "We're grateful to AllianceBernstein and Walker & Dunlop for their partnership and execution throughout the financing process."
Walker & Dunlop and AllianceBernstein's Role
Aaron Appel, senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop, said demand for newly constructed multifamily assets in New York City remains strong, particularly for properties that combine quality construction, affordability components, and transit-oriented locations.
"12 Halsey represents exactly the type of institutional-quality asset that continues to attract significant lender interest," Appel said. "We appreciate the opportunity to advise EJS Group and Hope Street Capital and thank AllianceBernstein for its partnership in delivering a successful financing."
Walker & Dunlop's Capital Markets team sourced more than $22 billion from non-Agency capital providers in 2025, including nearly $16 billion for multifamily properties. The firm maintains relationships across banks, debt funds, insurance companies, and institutional investors.
Brooklyn Multifamily Market Context
The 12 Halsey refinancing comes as Brooklyn's multifamily market continues to exhibit low vacancy and strong rent levels, conditions that have sustained institutional lender interest in well-located, transit-served mixed-use product. Bedford-Stuyvesant, situated along major subway corridors, has attracted development activity as developers seek high-barrier-to-entry locations with access to both affordable housing incentive programs and market-rate demand.
The use of the 421-a Affordable New York program at 12 Halsey reflects a broader pattern among New York City developers seeking to combine tax benefits with institutional financing, as lenders including debt funds and investment managers have shown continued appetite for mixed-income assets that carry regulatory affordability components.
Sources
Walker & Dunlop — $138 Million Financing for Mixed-Use Brooklyn Community (Aug. 3, 2026)