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New York & Tri-State  + Outer  + Finance  | 

Walker & Dunlop Secures $204M for Brooklyn’s The Axel Multifamily

Walker & Dunlop, Inc. has secured $204 million in loan proceeds from MF1 Capital to refinance The Axel, a 29-story mixed-use multifamily and commercial asset with 284 multifamily units at 550 Clinton Ave. and 539 Vanderbilt Ave. in Brooklyn. 

The Walker & Dunlop team, comprised of Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz and Sean Bastian, exclusively advised the sponsor, Hope Street Capital, on the refinancing of the Morris Adjmi-Architect designed building. A team led by Michael Squires and Will Trotsky handled the financing for MF1 Capital. 

“The Axel represented an opportunity to refinance a top-tier development project rapidly approaching completion for an institutional-quality sponsorship team,” said Appel. “Having already leased a portion of the multifamily tower with tenants, Hope Street was able to provide lenders with an early proof of concept in a challenging market environment.


Inside The Story

Walker & Dunlop's Appel

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing