Updated Sep 11, 2026
Haussmann Development Secures $38.5M Construction Loan For Multifamily Property In Crown Heights, Brooklyn
827 Sterling Place
$38,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 21, 2023
About this deal
AI
The Haussmann Development has secured a construction loan for a multifamily property located at 827 Sterling Place in Crown Heights, Brooklyn. The loan, provided by Urban Standard Capital, amounts to $38,500,000. The property is situated in a vibrant market, offering a desirable location for residents.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $38,500,000
- Address: 827 Sterling Place, Crown Heights, Brooklyn
- Landlord: Haussmann Development
- Lender: Urban Standard Capital
- Loan Type: Construction
This loan transaction involved the collaboration of key individuals, including Sam Hollander, Charlie Brosens, Bean, Seth Weissman, and Harris Pergament. Sam Hollander and Charlie Brosens can be contacted for new debt opportunities at [email protected] and [email protected], respectively.
On the Map
$38,500,000
MultiFamily
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Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93