A newly completed residential property in Brooklyn has secured fresh financing to support its next phase of ownership. The mixed-use property dubbed 12 Halsey delivers hundreds of apartments, affordable living units, and ground-floor retail space. The recent financing supports the development’s long-term ownership following its completion in late 2025.
Brooklyn Apartment Development Secures $138 Million Loan
According to Business Wire, Walker & Dunlop arranged approximately $137.5 million in refinancing for the Bedford-Stuyvesant multifamily development on behalf of property owners EJS Group and Hope Street Capital.
Walker & Dunlop’s Capital Markets Institutional Advisory team was the exclusive advisor in the latest transaction. It arranged a three-year, floating-rate loan from AllianceBernstein.
The refinancing was handled by Aaron Appel, Keith Kurland, Jonathan Schwartz, Dustin Stolly, Adam Schwartz, Sean Reimer, Michael Ianno, Cole Grims, and Michael Diaz.
12 Halsey Adds 240 Apartments to Bedford-Stuyvesant
The construction of the residential property was completed back in October 2025. It now provides locals with 240 residential units, which includes a 30% space for affordable housing. This is being done under the city’s Affordable New York (421-a) program.
In addition to its residential units, the property has approximately 2,400 square feet of retail space on the ground floor. Located between Fulton and Halsey Streets, the development offers tenants convenient access to the A and C subway lines.
“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.
New York Multifamily Development Continues to Attract Investment
Aaron Appel, the senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop, reflected on growing demand for freshly constructed multifamily properties in New York. This is even more relevant for those developments that focus on affordability and transit-based housing along with quality projects.
“12 Halsey represents exactly the type of institutional-quality asset that continues to attract significant lender interest,” Appel added.
Walker & Dunlop said its Capital Markets team arranged more than $22 billion in financing from non-agency lenders in 2025, including nearly $16 billion for multifamily properties. The company works with banks, insurance companies, debt funds, and institutional investors to obtain financing for commercial real estate projects.
The refinancing reflects continued investment in Brooklyn’s residential market, where new multifamily developments continue to secure financing.
