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. Designed by Issac & Stern Architects, the structure will yield 76 apartments, with 23 designated as affordable housing and financed through the now-expired 421-a tax abatement program. The property is located between Rogers and Nostrand Avenues.
Permits have been filed for a six-story residential building at 458 St. Marks Avenue in Crown Heights, Brooklyn. Located between Classon and Grand Avenues, the interior lot is a short walk to the Eastern Parkway-Brooklyn Museum subway station, serviced by the 2, 3, and 4 trains. Steven Hurwitz of Nostrand Land LLC is listed as the owner behind the applications.
Carmel Partners landed a $233 million loan to complete a 17-story rental building at 54 Crown Street in Crown Heights, Brooklyn. Designed by Hill West Architects, the structure will contain 569 apartments, 182 enclosed parking spaces, around 7,500 square feet of ground-floor retail space, and a 1,500-square-foot community facility.
The affordable housing lottery has launched for The Grand Pacific Apartments, a nine-story mixed-use building at 985 Pacific Avenue in Crown Heights, Brooklyn. Designed by Issac & Stern Architects and developed by EMP Capital Group, the structure yields 69 residences. Available on NYC Housing Connect are 18 units for residents at 40 to 130 percent of the area median income (AMI), ranging in eligible income from $28,320 to $198,250.
The affordable housing lottery has launched for 1216 Pacific Street, a four-story residential building in Crown Heights, Brooklyn. The gut-renovated structure is designed by McCaw Michael Ivanhoe Architect and yields seven residences. Available on NYC Housing Connect are five units for residents at 110 percent of the area median income (AMI), ranging in eligible income from $71,932 to $139,810.