Bravo Capital closed a $20,967,000 HUD 223(f) loan for 1620 New York, a 54-unit apartment property in Brooklyn, New York, on January 13, 2026. HUD issued the firm commitment on June 16, 2025, with Bravo Capital as the HUD-approved lender. The building, at 1620-1622 New York Avenue, was first financed with a $23 million bridge loan from Bravo's affiliate, Bravo Property Trust, then refinanced into HUD: a bridge-to-HUD execution. How bridge-to-HUD works.
Deal at a glance
| Property | 1620 New York |
|---|---|
| Location | Brooklyn, New York |
| Property type | Multifamily (apartments) |
| Units | 54 units |
| Program | HUD 223(f) |
| Loan amount | $20,967,000 |
| Firm commitment | June 16, 2025 |
| Closed | January 13, 2026 |
| Lender | Bravo Capital (HUD MAP and LEAN lender) |
About the HUD 223(f) program
A HUD 223(f) loan is an FHA-insured, fixed-rate, non-recourse mortgage for buying or refinancing an existing apartment property. It runs up to 35 years, fully amortizing, with up to 87% loan-to-value for market-rate properties and 90% for affordable or subsidized properties.
Bravo’s HUD record
Since April 2022, Bravo Capital has received 26 HUD firm commitments, and all 26 have closed, for $526.0 million in closed loans. See every deal on the HUD Closing Scorecard.
Talk to an underwriter HUD 223(f) terms
About the author
Aaron Krawitz is the founder and CEO of Bravo Capital, a HUD-approved MAP and LEAN lender in New York City. He founded Bravo in 2021 after serving as president of Dwight Capital. Bravo and its affiliate, Bravo Property Trust, have closed more than $2.5 billion in financing, and Bravo closed every HUD firm commitment it received in 2025.
