99 Affordable Homes & Apartments Coming Soon To Brooklyn
Last week, Haussmann Development successfully secured a $38.5 million construction loan for the property located at 827 Sterling Place in Crown Heights. This seven-story project is set to comprise 76 rental housing units, including 23 affordable homes, which are financed through the former 421-a tax abatement program. The upcoming building will also house a parking garage and offer a comprehensive range of amenities for its residents.
Josef Goodman, Principal of Haussmann Development, expressed the company’s commitment to addressing the housing crisis and its dedication to providing much-needed housing across various neighborhoods in New York City. He highlighted the scarcity of new, high-quality rental housing in central Crown Heights and their anticipation of delivering 76 new homes to New Yorkers in one of the city’s finest neighborhoods.
Demolition work has already commenced at the construction site, with the final project slated for completion by the summer of 2025. The overall development cost for this project is estimated at $55 million.
827 Sterling will comprise a mix of studio, one-bedroom, and two-bedroom apartments. Resident amenities will encompass a fitness center, a resident lounge, a children’s room, bike storage facilities, a rooftop deck, and on-site parking. Moreover, the project enjoys a convenient location within walking distance of two major transit options: the Nostrand Avenue 2/3/4 Subway station and the Nostrand Avenue Long Island Railroad station.
Jake Sokol, head of acquisitions and capital markets at Haussmann Development, expressed the company’s pride in contributing to the bright future of the Crown Heights community. He emphasized their commitment to developing diverse and high-quality housing at 827 Sterling while continuing to expand their presence as one of the premier housing developers in New York City.
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