Goose Property Lands $80M Refi for Brooklyn Development

New York-based developer Goose Property Management has secured an $80 million refinancing loan for 570 Fulton, a 163-unit multifamily project in Brooklyn, N.Y. Affinius Capital LLC originated the note, which will be used to complete the development, as well as to lease the property to stabilization. Galaxy Capital’s Partner Henry Bodek arranged the financing. 

Construction at 570 Fulton began in June 2024 and is slated for completion in February 2026, according to Yardi Matrix information. In 2023, the multifamily project became the subject of a $67 million construction loan originated by Slate Property Group.

The luxury apartment building will feature 53 studios, 91 one-bedroom and 19 two-bedroom units, across 23 floors. The development will also include 3,900 square feet of ground-floor retail space. Amenities will comprise a furnished rooftop, gym, business center, lounge, children’s playroom, game room and 24-hour doorman services. 

Located in downtown Brooklyn at 570 Fulton St., the building will be just off the Nevis Street subway station on trains 3 and 5. Subway stations on the A, B, G and R trains, as well as The Brooklyn Hospital Center and Fort Greene Park, are within half-a-mile of the property.

Multifamily development in New York City

Year-over-year Through April, New York City led the list of U.S. markets with the highest rent growth, clocking at 5.8 percent, the latest Yardi Matrix multifamily report shows. On a trailing 12-month basis, deliveries in the metro accounted for 1.7 percent of stock.

Last December, Affinius Capital issued a construction loan for another downtown Brooklyn project by Goose Property Management. The investment firm originated a $132 million note for 358 Livingston, a 297-unit, 24-story luxury apartment building. The two developments, 570 Fulton and 358 Livingston, are across the street from each other, separated by Flatbush Avenue.