Newmark Arranges Refinancing for The Clark, a 170-Unit Class A Multifamily Property in Brooklyn

November 9, 2026 9:00 AM

Newmark announces it has arranged a $47.6 million loan on behalf of the Sponsor, The Hudson Companies, to refinance The Clark, a 170-unit multifamily property located at 310 Clarkson Avenue in Brooklyn's Prospect Lefferts Gardens neighborhood. Benefit Street provided the financing.

Newmark Global Debt & Structured Finance Senior Managing Director Daniel Fromm arranged the financing, with transactional support from Senior Associate Samuel Speciale and Analyst Lance Tillman of Newmark's Global Debt & Structured Finance group arranged the financing on behalf of the Sponsor.

"We built The Clark with the goal of delivering high quality, mixed income housing to Prospect Lefferts Gardens and that commitment hasn't changed," said Chris Zedano, Managing Director at The Hudson Companies. "This refinancing puts the property on strong, stable footing and positions us to continue serving the families and longtime residents who call this neighborhood home. We appreciate Newmark's execution and Benefit Street's confidence in the asset."

Completed in 2018, The Clark is an eight-story, Class A multifamily property comprising 170 residential units and approximately 7,700 square feet of ground-floor retail space. The residential component features a mix of studio, one-, two- and three-bedroom apartments, including market-rate, rent-stabilized and affordable housing units. The property also benefits from a 35-year 421-a tax abatement extending through June 2054.

Residences feature open floor plans, hardwood flooring, contemporary kitchens with stainless steel appliances and in-unit washers and dryers. Building amenities include an attended lobby, landscaped rooftop terrace with grilling stations, fitness center, resident lounge, coworking space and on-site parking. The property's ground-floor retail space is fully leased to Walgreens and Friends of Crown Heights.

Situated between Nostrand and New York Avenues, The Clark offers convenient access to Prospect Park, the Brooklyn Botanic Garden and several major healthcare and educational institutions, including SUNY Downstate Medical Center and Kings County Hospital. The property is also within walking distance of the 2, 5, B and Q subway lines, providing connectivity to Downtown Brooklyn and Manhattan.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leading commercial real estate advisor and service provider to large institutional investors and other owners, global corporations and other occupiers, and lenders. Built with purpose and driven by excellence, Newmark's comprehensive platform is uniquely tailored to provide superior outcomes to clients. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of June 30, 2026, Newmark and its business partners together operated from over 195 offices with more than 10,000 professionals across four continents. Learn more at nmrk.com or follow @newmark.

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