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

Property Image
FINANCED
$166,000,000
Yitzchok Katz
Martin Nussbaum
David Schwartz

New York

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Development Site
Financed 04/25/2025
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Property Image
FINANCED

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

See Similar Deals
Development Site
Financed 04/25/2025
Yitzchok Katz
Martin Nussbaum
David Schwartz
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Loan

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
Martin Nussbaum
25 deals$1.8B volume
LENDER
David Schwartz
Slate Property Group
David Schwartz
41 deals$2.9B volume
LENDER
Slate Property Group
Slate Property Group
LENDER
Yitzchok Katz
Yitzchok Katz
10 deals$718.7M volume
LANDLORD

Details

FINANCED
IMAGE: Martin Nussbaum & David Schwartz DATE: 04/25/2025 ADDRESS: 264, 282 & 290 Bergen Street; 265 & 290 Wyckoff Street MARKET: Boerum Hill ASSET TYPE: Development Site LENDER: Martin Nussbaum & David Schwartz - Slate Property Group (@SlatePropertyGroup) LANDLORD: Yitzchok Katz - Goose Property Management LOAN AMOUNT: $166,000,000 LOAN TYPE: Construction NOTE: Goose Property Management secured a $166M construction loan from Slate Property Group for four planned residential buildings totaling 367 units across Bergen and Wyckoff Streets in Brooklyn.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$166,000,000.00

Monthly NOI$1,106,666.67
Monthly Debt Service$1,049,232.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00