Urban Standard Capital Provides $38.5M Construction Loan For 827 Sterling Place Development Site, Crown Heights

The property at 827 Sterling Place, located in the Crown Heights market, has recently been involved in a loan transaction. The loan, amounting to $38,500,000, was provided by Urban Standard Capital. The property itself is a development site, indicating potential growth and future value.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $38,500,000
• Lender: Urban Standard Capital
• Landlord: Josef Goodman & Jake Sokol - Haussmann Development; & Kriss Capital - Jody Kriss
• Loan Type: Construction

It is noteworthy that Haussmann Development and Kriss Capital are spearheading the development of 76 units under the 421-a program. This initiative, aimed at promoting affordable housing, adds a significant element to the property's value. For any potential deals relating to this development, interested parties can reach out to [email protected].