Stellar Management Secures $49.4M Loan For Multifamily Property In Crown Heights

Located in Crown Heights, the multifamily property at 49 Crown Street has recently gone through a closed transaction. With a total of 321 units, the property spans a square footage of approximately 320,000. The transaction took place on August 9, 2022, with a loan amount of $49,400,000 secured.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $49,400,000
• Address: 49 Crown Street
• Market: Crown Heights
• Units: 321

Stellar Management acted as the landlord in this transaction, while the lending was provided by the NYC Housing Development Corporation. This successful deal highlights the collaboration between these key individuals and organizations, contributing to the growth and development of the Crown Heights market.