Hope Street Capital Secures $204M Loan In Brooklyn Mixed-Use Deal

The Axel is a 29-story mixed-use multifamily and commercial asset comprising 284 multifamily units, located at 550 Clinton Avenue and 539 Vanderbilt Avenue in Brooklyn, NY. The property is situated on the border of downtown Brooklyn, close to the neighborhoods of Clinton Hill, Fort Greene, and Prospect Heights. It offers access to a diverse range of culture, dining, and shops, with convenient proximity to Atlantic Terminal, Brooklyn’s largest train station.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $204,000,000.00
• Borrower: Hope Street Capital
• Lender: MF1 Capital
• Borrower's Representative: Sean Bastian - Walker & Dunlop
• Brokers: Michael Squires - Limekiln Real Estate, Will Trotsky

This refinancing transaction was facilitated by a team from Walker & Dunlop, which included Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, and Sean Bastian. The financing was also supported by Michael Squires and Will Trotsky, who worked with MF1 Capital. The deal was completed in less than 35 days, reflecting MF1's ability to execute structured loans for quality assets amidst a challenging market.