Haussmann Development has closed a $40.75-million refinancing loan from ACRES Capital for The Eve, a fully electric, mixed-income residential project at 827 Sterling Pl. in Crown Heights. The new financing replaces a construction loan from Urban Standard Capital, which carried a $38.5-million commitment but was paid off at a lower $35.8 million. The refinancing was arranged by Alan Blank, Zach Kraft, and Gideon Gil of Cushman & Wakefield.
The Eve marks Haussmann’s second Brooklyn development, following the Arris Grand, a 113-unit mixed-use property located at 445 Grand Ave. in Clinton Hill. Across both assets, Haussmann has secured nearly $90 million in new financing within 45 days.
“This refinancing demonstrates the capital market’s confidence in The Eve and Haussmann’s execution,” said Josef Goodman, principal of Haussmann Development. “When we went out to the debt markets in early 2025, we received over 10 offers for bridge financing. ACRES was the clear winner, but the process demonstrated how liquid the market is for Brooklyn lease-up projects.”
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