A seven-story building is set to welcome 76 new apartments to Crown Heights, including 23 affordable units. The project will rise at 827 Sterling Place and is being designed by Isaac & Stern Architects. 827 Sterling will include studios, one-, and two-bedroom apartments. Demolition and abatement work has already taken place at the site and the final project is expected to debut in summer 2025.
Construction is set to begin on a new $55 million housing development in Crown Heights after developers received crucial funding from Urban Standard Capital. The seven-story apartment complex at 827 Sterling Place, dubbed “The Royal,” is set to be completed in the summer of 2025, and will offer both market-rate and affordable studios and one- and two-bedroom apartments.
Haussmann Development and Kriss Capital have secured a $38.5 million construction loan to complete a seven-story rental property at 827 Sterling Place in Crown Heights, Brooklyn.
Haussmann Development announced that it has closed on a $38.5 million construction loan for 827 Sterling Place in the Crown Heights neighborhood of Brooklyn. The seven-story project will feature 76 units of critically needed rental housing, including 23 affordable homes financed through the former 421-a tax abatement program.
Haussmann Development, and project partner, Kriss Capital, have landed a $38.5 million loan for a 7-story, residential building, set to rise at 827 Sterling Place in Brooklyn's Crown Heights neighborhood. Issued by Urban Standard Capital, this influx of capital will help to fund a majority of the construction costs for the project.
Haussmann Development has secured a $38.5 million construction loan for its project at 827 Sterling Place in Crown Heights, Brooklyn. The seven-story building will include 76 rental units, with 23 of them designated as affordable housing.
Haussmann Development, a New York City-based developer, has secured $38.5 million in construction financing to build a 76-unit rental property on the site of a demolished parking lot in Crown Heights, Brooklyn, Commercial Observer can first report. The 76-unit project is one of the last to use the now-expired 421a tax abatement.
The affordable housing lottery has launched for 168 West 136th Street, an eight-story residential building in Manhattan’s Central Harlem. Designed by architect Nicholas Kazalas and developed by Haussmann Development and Coltown Properties, the structure yields 27 rental units. Available on NYC Housing Connect are nine units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $107,658 to $198,250.
Upper Manhattan Assemblymember Al Taylor joined Haussmann Development on Wednesday to celebrate a ribbon-cutting for a new pair of mixed-use buildings in Harlem property at 2750-2754 Frederick Douglass Boulevard.
After announcing his bid to challenge Harlem Councilmember Kristin Richardson Jordan for her seat in 2023 last week, this Wednesday Assemblymember Al Taylor vented criticism for an expired development tax break at an event where he coronated a new building the policy helped create.