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264 Bergen Street

Goose Property Management Secures $166M Construction Loan From Slate Property Group In Boerum Hill
FINANCEDDevelopment Site

Goose Property Management Secures $166M Construction Loan From Slate Property Group In Boerum Hill

264 Bergen Street, 282 Bergen Street, 290 Bergen Street, 265 Wyckoff Street & 290 Wyckoff Street

$166,000,000

Building Size

Asset Type

Development Site

Closing

Apr 25, 2025

AI

The development site consists of four planned residential buildings totaling 367 units located at 264, 282 & 290 Bergen Street and 265 & 290 Wyckoff Street in the Boerum Hill market of Brooklyn. The site is associated with a construction loan amounting to $166,000,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $166,000,000
  • Lender: Martin Nussbaum & David Schwartz - Slate Property Group
  • Landlord: Yitzchok Katz - Goose Property Management
  • Loan Type: Construction

This transaction was facilitated by Goose Property Management, which secured the construction loan to finance the development project. The lender, Slate Property Group, is represented by Martin Nussbaum and David Schwartz in this transaction.

Players

Martin Nussbaum

Slate Property Group

Lender

$1.8B

vol

25 deals

Lender
Slate Property Group
Slate Property GroupLender
Yitzchok Katz

Yitzchok Katz

Goose Property Management

Landlord

$718.7M

vol

10 deals

Landlord

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93