Yoel Goldman’s All Year Management borrows $55M from Gary Katz’s Downtown Capital Partners for development site in Gowanus

Yoel Goldman’s All Year Management through the entity Smith Street Owner LLC as borrower signed a loan agreement with lender Gary Katz’s Downtown Capital Partners through the entity DCP Smith Lender LLC valued at $55.0 million for 1 parcel, including the tax class miscellaneous open space (Z9) at 459 Smith Street in Gowanus. The deal closed on November 8, 2019 and was recorded on November 19, 2019.
The site is expected to be developed into a new building.

The prior debt was seller-financed by Henry Abadi, who sold the property on July 21, 2017, for $48,000,000 to All Year.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $3,446,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link