12 Halsey. Photo Credit: EJS Group
Walker & Dunlop Inc. (NYSE: WD) has arranged a $137.5 million refinancing for 12 Halsey, a newly completed Class A mixed-use multifamily community in Brooklyn’s Bedford-Stuyvesant neighborhood, providing long-term capital for a transit-oriented development that combines market-rate and affordable housing.
Walker & Dunlop’s Capital Markets Institutional Advisory team served as exclusive adviser to EJS Group and Hope Street Capital, securing the three-year floating-rate loan from AllianceBernstein. The financing was led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims.
Completed in October 2025, 12 Halsey features 240 apartment homes, with 30% of the units designated as affordable housing under New York’s Affordable New York (421-a) program. The development also includes approximately 2,400 square feet of ground-floor retail space and occupies a full cross-block site between Fulton and Halsey Streets, offering immediate access to the A and C subway lines for connectivity throughout Brooklyn and Manhattan.
The refinancing reflects continued lender appetite for newly delivered multifamily properties in New York City, particularly developments that combine institutional-quality construction, affordability components and strong transit access. Those characteristics have remained attractive to debt providers despite a more selective commercial real estate lending environment.
“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. We appreciate the opportunity to advise EJS Group and Hope Street Capital and thank AllianceBernstein for its partnership in delivering a successful financing.”
For EJS Group, the refinancing supports a development strategy centered on delivering mixed-use residential communities in high-demand, supply-constrained New York City neighborhoods. The Bedford-Stuyvesant project expands housing availability while incorporating affordable units and neighborhood-serving retail within a location that benefits from established transit infrastructure.
“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.”
The transaction also highlights Walker & Dunlop’s expanding capital markets platform. During 2025, the firm’s Capital Markets team sourced more than $22 billion in financing from non-agency capital providers, including nearly $16 billion for multifamily properties. The company continues to leverage relationships with banks, debt funds, insurance companies and institutional investors to structure financing solutions for commercial real estate owners and developers.
New York-based EJS Group specializes in ground-up multifamily and mixed-use developments across the metropolitan area. In addition to 12 Halsey, the firm’s portfolio includes recently completed luxury condominium projects such as 200 East 75th Street and 150 East 78th Street, while it is currently developing The Greenwich Spire, a boutique condominium tower in Manhattan’s Greenwich Village.