Yitzchok Katz files plans for 99 units in Boerum Hill
264 Bergen Street (Credit - Google)
Yitzchok Katz, of Goose Property Management and Developers NY State, submitted a new building construction project for a 99-unit, 97,780 square-foot residential (R-2) building at 264 Bergen Street in Boerum Hill, Brooklyn. The plan was filed with the New York City Department of Buildings on February 19, 2025 under job number B01172199. It calls for the construction of an 11-story building. The project is described in the filing as: 11 story and cellar residential building. The architect is Hamish Whitefield Architects P.C.
The plans call for 11 units each on floors one to four, nine units on floors five to seven, eight units on the eighth floor, seven units on floors nine and 10 and six units on the 11th floor. There is no retail or other commercial use in the building.
264 Bergen Street
| wdt_ID | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|
| 1 | Cellar | 27 PARKING SPACES | Parking Garage | 51 | Storage | ||
| 2 | Cellar | RECREATIONAL SPACE | Apartment | 19 | Residential | ||
| 3 | Cellar | 150 BICYCLE PARKING SPACES | Apartment | N | Residential | ||
| 4 | Cellar | UTILITY ROOMS | Apartment | NA | Residential | ||
| 5 | Open Space | 27 PARKING SPACES | Parking Garage | NA | Storage | ||
| 6 | 1 | 11 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 11 | |
| 7 | 2 | 11 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 11 | |
| 8 | 3 | 11 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 11 | |
| 9 | 4 | 11 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 11 | |
| 10 | 5 | 9 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 9 | |
| 11 | 6 | 9 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 9 | |
| 12 | 7 | 9 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 9 | |
| 13 | 8 | 8 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 8 | |
| 14 | 9 | 7 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 7 | |
| 15 | 10 | 7 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 7 | |
| 16 | 11 | 6 CLASS 'A' DWELLING UNITS | Apartment | NA | Residential | 6 | |
| 17 | Roof | ELEVATOR MECHANICAL ROOM | Apartment | NA | Residential | ||
| 18 | Roof | PASSIVE RECREATION | Apartment | 24 | Residential |
The property
The industrial building in Boerum Hill has 49,293 square feet of built space and 137,274 square feet of additional air rights for a total buildable of 186,768 square feet according to a PincusCo analysis of city data. The parcel has frontage of 399 feet and is 200 feet deep with a total lot size of 46,692 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $5.7 million. The most recent loan totaled $99.8 million and was provided by H.I.G. Capital on April 1, 2024.
Prior sales and revenue
This property was sold with 3 other properties by Dillon Realty Interests for $39.7 million to Goose Property Management on April 1, 2024.
Violations and lawsuits
According to city public data, the property has received four DOB violations, $30,000 in ECB penalties, and $30,980 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
The neighborhood
In Boerum Hill, The bulk, or 32 percent of the 9 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space. In sales, Boerum Hill has near average sales volume among other neighborhoods with $357.7 million in sales volume in the last two years and is the 19th highest in Brooklyn. For development, Boerum Hill has near average amount of major developments among other neighborhoods and is the 6th highest in Brooklyn. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 21 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of six of the 14 commercial properties representing 60,407 square feet of the 81,279 square feet. The largest owner is Bill Wolf Petroleum Corp., followed by Comjem Associates and then Fifth Avenue Committee. On the tax block, there were two new building construction projects totaling 120,025 square feet. The largest is a 99-unit, 97,780 square-foot residential (R-2) building submitted by Goose Property Management and filed by Yitchok Katz with plans filed February 19, 2025 and it has not been permitted yet. The second largest is a 19-unit, 22,245 square-foot residential (R-2) building submitted by Adam Wolf with plans filed March 17, 2015 and it has not been permitted yet.
The owner
The PincusCo database currently indicates that Goose Property Management owned at least 10 commercial properties with 344 residential units in New York City with 169,574 square feet and a city-determined market value of $25.8 million. (Market value is typically about 50% of actual value.) The portfolio has $259 million in debt, with top three lenders as Affinius Capital, H.I.G. Capital, and S3 Capital respectively. Within the portfolio, the bulk, or 41 percent of the 169,574 square feet of built space are industrial properties, with office properties next occupying 30 percent of the space. They are all located in Brooklyn.
The surrounding
Within a 400-foot radius of 278 Bergen Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. Of those two items, two were loans above $5 million totaling $33.4 million. The most recent of the two was Comjem Associates in which borrowed $5 million from Mark Bluth secured by the 13,516-square-foot, six-unit rental (C2) on 259 Wyckoff Street and one other property on July 17, 2024.
Direct link to the property’s ACRIS page and link to DOB NOW portal.