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.”
