570 Eldert Lane (581 Grant Avenue)

$160 Million

The New York City’s Department of Housing Preservation and Development (“HPD”) announced the designation of the Grant Avenue Modular Project to TB Grant LLC (“TBG”), a joint venture between Thorobird Companies LLC (“Thorobird”) and Bangladeshi American Community Development & Youth Services (“BACDYS”) in 2019. Prior to the project’s construction loan closing, Slate Property Group (“Slate”) joined the development partnership as co-developer with Thorobird.

The city-owned lot located at 581 Grant Avenue in the City Line neighborhood of Brooklyn, New York (the “Property”) will be developed into a mixed-use 213-unit affordable multifamily rental building of variable floor count ranging from 5- to 8-stories.