SCALE Issues $140M Loan for BK Resi Development 

SCALE Lending, Slate Property Group’s debt financing arm, has provided a $140 million construction loan for Clipper Equity’s 7-story, 354-unit multifamily project at 2366 Bedford Avenue, Flatbush, Brooklyn, NY.  

Led by David Bistricer, the loan, arranged by Leah Paskus of Landstone Capital Group, will aid in construction, overseen by Manhattan Management Realty, set for completion in Q3 2025. Part of a redevelopment of the historic Sears catalog printing facility into affordable housing, the project addresses Brooklyn’s growing multifamily demand.  

“Demand in the Brooklyn multifamily market is already robust and continues to grow,” said Martin Nussbaum, co-founder and principal at Slate Property Group. “We are thrilled about the opportunity to work with an experienced and established developer, such as David Bistricer, who has completed more than 60 buildings in the NYC metro area and has a proven track record of successful ground-up multifamily projects.” 

Designed by S. Wieder Architect PC, 2366 Bedford Avenue will feature retail space, parking, and an amenity package. 

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