Haussmann Development has secured a $49.5 million refinancing loan for the Arris Grand, a mixed-use development located at 445 Grand Ave. in Clinton Hill, Brooklyn. The loan from QuadReal Property Group, a global real estate investment, operating and development company, has a fixed-rate with flexible prepayment terms and replaces a $46 million 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.
“As a company committed to delivering strong and stable returns, we invest in quality buildings and projects in high conviction sectors including residential,” said Paul Stern, senior vice president of real estate debt at QuadReal. “Arris Grand exemplifies our investment strategy and we are excited to be working with Haussmann on this project.”
The refinancing deal was brokered by Alan Blank, Zach Kraft and Gideon Gil from Cushman & Wakefield.
A 102,000-square-foot project completed in 2024, Arris Grand comprises nine stories and 113 apartments in the vibrant Clinton Hill neighborhood. The property, which includes 34 affordable apartments, is 100% leased.
Arris Grand offers a suite of amenities including a rooftop terrace with barbecue stations, dining areas and sweeping views; a state-of-the-art fitness center; an attended lobby; media and gaming lounges; a pet spa; an outdoor dog run; coworking and study spaces and 84 parking spaces. The studio, one- and two-bedroom homes are furnished with stainless steel appliances, movable kitchen islands, Brazilian oak floors, in-unit washers and dryers and floor-to-ceiling windows.
Arris Grand includes three retail suites totaling 7,127 square feet. Spear, a physical therapy treatment center, and House of Wonder, a Scandinavian-inspired café, have leased two of the retail spaces.
Arris Grand was developed by KD Sagamore and Ranger Properties and designed by Fogarty Finger. Haussmann serves as the development’s asset manager and local operating partner. Arris Grand is Haussmann’s second project in Brooklyn, following its 76-unit project, The Eve, at 827 Sterling Place in Crown Heights.
“With the highest-quality residential offerings and amenities in a prime location, Arris Grand is an exemplary project, and this unique, fixed-rate financing represents a strong vote of confidence in Arris Grand and its long-term success,” said Josef Goodman, principal of Haussmann Development. “In addition to our core development business, we’re actively pursuing additional opportunities to make structured, controlling investments across class A residential assets in New York City and beyond.”
