NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $166 million construction loan for a 367-unit multifamily project that will be located at 280 Bergen St. in the Boreum Hill area of Brooklyn. Designed by Fischer Rasmussen Whitfield Architects, the four-building development will consist of three 11-story buildings and one 12-story building in addition to 9,700 square feet of commercial space and 40 parking spaces. Residences will come in studio, one- and two-bedroom floor plans, and amenities will include a fitness center with a yoga studio, theater, game room, lounge and a children’s playroom. Galaxy Capital arranged the 30-month loan on behalf of the borrower, locally based developer Goose Property Management. A tentative completion date was not announced.
The new multifamily project at 280 Bergen St. in Brooklyn will add 367 units to the local supply.
SCALE Lending Provides $166M Construction Loan for Brooklyn Multifamily Project
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