Haussmann Development Secures $38.5M Construction Loan For Multifamily Property In Crown Heights, Brooklyn
FINANCED
$38,500,000
New York
See Similar DealsMultiFamily
Financed 09/21/2023
FINANCED
Haussmann Development Secures $38.5M Construction Loan For Multifamily Property In Crown Heights, Brooklyn
827 Sterling Place
See Similar DealsMultiFamily
Financed 09/21/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,500,000.00
Monthly NOI$256,666.67
Monthly Debt Service$243,346.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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