Updated May 12, 2025
Haussmann Development Secures $40.75 Million Refinance Loan For 827 Sterling Place In Brooklyn
827 Sterling Place
$40,750,000
$783/SF
Building Size
52,000 SF
Asset Type
MultiFamily
Closing
Apr 8, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 827 Sterling Place in Brooklyn, featuring 76 units and comprising a total square footage of 52,000. The property obtained a refinance loan amounting to $40,750,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $40,750,000
- Lender: ACRES Capital
- Landlord: Haussmann Development - Josef Goodman & Jake Sokol; Kriss Capital - Jody Kriss
- Brokers: Alan Blank, Zachary Kraft & Sebastian Sanchez - Cushman & Wakefield
Key individuals involved in the deal include Josef Goodman and Jake Sokol representing Haussmann Development, as well as Jody Kriss from Kriss Capital. The brokerage team from Cushman & Wakefield consists of Alan Blank, Zachary Kraft, and Sebastian Sanchez, who played a significant role in the transaction.
On the Map
$40,750,000
$783/SF
MultiFamily
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Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93