Acres Capital LLC
09/19/2025 | Press release | Archived content
ACRES Provides $40.75 Million for Multifamily Property in Brooklyn, NY
ACRES Provides $40.75 Million for Multifamily Property in Brooklyn, NY
SEPTEMBER 19, 2025Loan to fund the refinance of a 76-unit multifamily property
BROOKLYN, NY (SEPTEMBER 19, 2025) - ACRES Capital Corp. (together with its affiliates, "ACRES") announced today that it has funded a $40.75 million loan to refinance The Eve, a newly constructed 76-unit, seven-story multifamily property located at 827 Sterling Place in Brooklyn, NY (the "Property"). The Eve is an elevator-served community with a mix of studios, one- and two-bedroom residences, each featuring in-unit washer/dryers, modern appliance packages, stone countertops, and hardwood flooring. Building amenities include a fitness center, resident lounge, children's playroom, furnished roof deck, bike storage, common laundry, a pet washing station, outdoor recreational space, and an on-site garage with 45 parking spaces. Located in Crown Heights, the Property benefits excellent transit access and neighborhood convenience.
"The Eve exemplifies the type of thoughtfully designed, community-focused developments that ACRES is proud to finance," added Fogel. "We look forward to seeing this project contribute to the vibrancy and housing diversity of Crown Heights."
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