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lpaca Real Estate (ARE) has recapitalized The Axel, a 97% leased Class A residential property in Brooklyn. Valued at approximately $300 million, the transaction highlights ARE's thematic approach to investing in high-growth urban areas.
Located adjacent to Barclays Center, The Axel offers stunning skyline views and resort-style amenities. Its central location attracts top commercial tenants, including Maimonides Hospital System, Chick-fil-A, and Hounds Town. With 13 subway lines within walking distance, the property benefits from its transit-oriented design.
"We are thrilled to partner with Alpaca Real Estate on this fantastic asset," said Jeffrey Gershon of Hope Street Capital. "New York's strong housing demand and limited vacancy make prime Brooklyn an attractive destination."
The Axel features a mix of studio, one-, two- and three-bedroom apartments with premium finishes and high-end appliances. Community amenities include a full-floor club level, game lounge, fitness center, and stunning rooftop terrace.
ARE's investment approach focuses on properties with strong tailwinds, such as The Axel in a gateway market. "We are proud to partner with Jeff on this project," added Daniel Carr, Managing Partner of ARE.
Developed by Hope Street Capital and designed by Morris Adjmi Architects, The Axel offers a unique living experience in one of Brooklyn's most sought-after neighborhoods.
About Alpaca Real Estate:
Alpaca Real Estate is a real estate private equity firm that utilizes a thematic investment approach to acquire and manage traditional and niche real estate investments. ARE integrates relationships with innovative operating platforms to unlock asymmetric upside potential.
About Hope Street Capital:
Hope Street Capital has over four decades of combined experience in the development, management, leasing, and sales of luxury residential, retail, and office assets. The team has extensive experience in each investment phase, stemming from over $2 billion in highly diverse transactions.
