Wisevoter
New York City

Goose Property Secures Loan for Prospect Avenue Site

Developer plans 396 residential units across four towers at the former Arrow Linen property in Brooklyn.

Updated on Oct. 16, 2026 in Commercial

Isometric editorial illustration showing four modern apartment blocks in a dense urban grid, representing new residential construction.
Goose Property Management has secured a $143 million loan from Affinius Capital for its residential development on Prospect Avenue in Brooklyn. AI Illustration. Upload story photo >

Live Poll

Should developers be held to initial affordable housing agreements despite changing their project plans?

Goose Property Management has secured a $143 million construction loan from Affinius Capital for the development of the former Arrow Linen site in Brooklyn. The new project at 441-467 Prospect Avenue replaces an earlier plan for the property.

Why it matters

The development represents a shift in density for the area following City Council rezoning. Discussions are currently ongoing regarding the final percentage of affordable housing units to be included in the project.

The new project plan includes 396 units across four 10-story buildings, with each tower containing 99 units. This proposal replaces an initial plan for 250 units, which previously featured a 40 percent affordable housing requirement.

The players

Goose Property Management

This firm is a real estate development company responsible for the new construction project at the Prospect Avenue site.

Affinius Capital

This financial institution provided the $143 million construction loan for the development.

Yitzchok Katz

This individual is the developer who acquired the former Arrow Linen property for $55 million.

Arrow Linen Supply Company

This business was a long-standing laundry operator in Brooklyn that previously owned the development site.

The details

The developer strategically divided the project into four 99-unit buildings to avoid the 485x wage floor requirements. Yitzchok Katz acquired the site for $55 million in September 2026 following the death of the Arrow Linen Supply Company CEO.

Timeline

  1. 1947: Arrow Linen was founded in Brooklyn.

  2. 2013: Citibank issued a $5.4 million loan to the previous owner.

  3. 2025: City Council approved rezoning for the site.

  4. May 2026: The Arrow Linen chief executive officer died.

  5. September 2026: Yitzchok Katz acquired the site for $55 million.

Culture Shift

The design of the 396-unit development follows a pattern of navigating New York City zoning and labor regulations to maximize density. By opting for four 99-unit towers, the project demonstrates how developers maneuver around the 485x wage floor constraints.

Residents in the Park Slope and Windsor Terrace area can expect a significant increase in housing density once construction of the four towers begins. The transition of the site from industrial to residential use marks a permanent change to the neighborhood streetscape.

The takeaway

The project highlights how developers use unit-count thresholds to navigate complex local labor mandates. Residents should anticipate ongoing public discussions as negotiations for the final affordable housing commitment progress.

Further reading

For more information on local development trends, visit the New York City Commercial section.

Source note: This article includes information reported by The Real Deal New York.

Live Poll

Should developers be held to initial affordable housing agreements despite changing their project plans?