Haussmann Development has secured $40.75 million in refinancing from ACRES Capital for The Eve, a newly completed residential building at 827 Sterling Place in Crown Heights, Brooklyn. The loan replaces a $38.5 million construction financing package from Urban Standard Capital, which was paid off at $35.8 million. Designed by Issac & Stern Architects and developed by Haussmann Development, the fully electric project yields 76 residential units, including 23 affordable apartments. The property is located between Nostrand and Rogers Avenues.
Rendering of 827 Sterling Place. Courtesy of Haussmann Development
Units at The Eve are offered in studio, one-bedroom, two-bedroom, and duplex configurations, with full lease-up anticipated by June. Resident amenities include a rooftop deck, fitness center, children’s play area, club room, EV charging stations, pet washing station, and garage parking. Residences offer in-unit laundry, central air conditioning, and many include private balconies.
Rendering of 827 Sterling Place. Courtesy of Haussmann Development
The Eve is Haussmann’s second Brooklyn development, following the Arris Grand in Clinton Hill. Across both projects, the developer has closed nearly $90 million in financing within a six-week span. The property achieved temporary certificate of occupancy (TCO) in early April and launched leasing shortly thereafter, recording over a dozen signed leases in the first two weeks.
Rendering of 827 Sterling Place. Courtesy of Haussmann Development
Transit options nearby The Eve include the 3 train at Nostrand Avenue and the Park Place shuttle, providing residents with easy access to Prospect Park and the Brooklyn Museum.
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The apartments are way too expensive for what’s pretty much a run-of-the-mill new build in Crown Heights. There’s nothing eye catching or outstanding about this to warrant the prices they’re asking for.
People will pay extraordinary amounts for these places.
23 affordable housing, which probably means very close to market rate, nothing truly affordable, bad enough these units will be tiny shoe boxes, MAKE CROWN HEIGHTS TRULY AFFORDABLE
Not affordable. And I hate that these building advertise the ‘amenities’ as if it’s included in the rent. Nope, you will be shelling out more money for amenities on top of the very high rent price. Thinking 1k at MINIMUM is affordable for a studio is really insane.