Alpaca Real Estate (ARE), an alternative investment management firm, recently completed a recapitalization of The Axel – a 29-story, 284-unit Class A residential property in Brooklyn. The property is currently 97% leased and was developed by Hope Street Capital.
“We are excited to announce our partnership with Alpaca Real Estate on this exceptional asset that we have been involved with for over ten years,” said Jeffrey Gershon of Hope Street Capital. “The location of The Axel is unbeatable, surrounded by lively restaurants and shops in the neighborhood and just minutes away from Manhattan. This makes it well-positioned to benefit from the long-term growth trends in the Brooklyn multifamily market.”
Daniel Carr, managing partner at ARE added, “At Alpaca Real Estate, we focus on properties that have strong potential for growth – like this core investment opportunity in a high-quality multifamily tower located in one of New York’s prime markets. Jeff has done an outstanding job developing this property and we are proud to partner with him.”
