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Boerum Hill Apartments Score $166M Construction Loan

SCALE Lending, the debt financing arm of Slate Property Group, has finalized a $166-million construction loan for the development of a multifamily project located at 280 Bergen St. in Boerum Hill, Brooklyn. The 30-month whole loan was arranged by Galaxy Capital.

Goose Property Management, a Brooklyn-based real estate developer and property manager, will use the funds for the 302,000-square-foot, four-building development that includes three 11-story buildings and one 12-story building in addition to 9,700 square feet of commercial space and 40 parking spaces. Once completed, the development will have 367 rental units ranging from studios to two-bedroom apartments.

“Boerum Hill is a vibrant and highly desirable family-friendly neighborhood, and 280 Bergen provides top-quality accommodations and amenities in addition to its transit-friendly location,” said Daniel Ridloff, managing director, Slate Property Group. “Goose Property Management has an outstanding track record, and we’re thrilled to partner with them on this project.”

Rendering courtesy of Fischer Rasmussen Whitefield Architects.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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