Haussmann Development has secured a $49.5-million refinancing loan for the Arris Grand, a mixed-use development located at 445 Grand Ave. in the Clinton Hill neighborhood of Brooklyn. The fixed-rate loan from QuadReal Property Group comes with flexible prepayment terms and replaces a $46,000,000 construction loan from Scale Lending.
Haussmann made a controlling minority investment in the property in 2024, which included sponsoring the new loan and serving as the company’s local operating partner. The refinancing deal was brokered by Alan Blank, Zach Kraft, and Gideon Gil from Cushman & Wakefield. With a track record of executing in volatile capital markets, Haussmann is actively looking at similar opportunities to make structured, controlling investments in class A assets throughout New York City.Â
A 102,000-square-foot project developed by KD Sagamore and Ranger Properties and completed in 2024, Arris Grand comprises nine stories and 113 apartments. The property, which includes 34 affordable apartments, is 100% leased.
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