Slate Property Group is a New York property development company that provides general construction services to both residential and commercial clients. Emphasizing a collaborative approach to development, the Slate Property Group has entered into a partnership with Avenue Realty Capital to build a multifamily development in Brooklyn.

In January 2023, the companies signed a $55 million financing deal that will enable the project to move forward. With funds provided by White Oak Real Estate Capital, the project centers on an 80,000-square-foot Williamsburg building that encompasses 19 affordable housing units and was among the last approved under New York State’s 421a program. The property, at 159 Boerum Street, also encompasses parking spaces and amenities such as a doorman and concierge service, as well as public outdoor space and a fitness center.

The managing principal of White Oak called the closing of substantial financing impressive, given a “challenging capital markets environment.” The project can be demonstrative of the resiliency and strength of Brooklyn’s multifamily sector. Slate cofounder Martin Nussbaum noted that a neighboring ground-up rental project, at 222 Johnson Street, was already fully leased.