The recapitalization of The Axel, a $300M transaction by Alpaca Real Estate, underscores the sustained demand for multifamily assets in prime Brooklyn neighborhoods. The property’s 97% lease rate, coupled with its high-quality tenant mix and excellent location near critical transit lines, positions it as a premier asset in the growing Brooklyn market. This move by Alpaca demonstrates its focus on leveraging urban growth trends, especially in gateway cities like New York, where housing demand remains strong and vacancy rates low. The addition of commercial tenants like Maimonides Hospital further enhances the property’s value as a multifaceted urban asset.