S3 Capital Lends $33M on Gowanus Multifamily Project

Goose Property Management has landed a $32.5 million financing package for the acquisition and pre-development costs of a multifamily project in Gowanus, Brooklyn, Commercial Observer has learned.

S3 Capital provided the loan for the developer’s planned 180-unit development at 172 Third Avenue. Goose acquired the land site for $15.25 million from Duma Transportation. The site is next to a 110,000-square-foot lot the firm purchased from Elo Group for $22 million in late 2024.

Galaxy Capital’s Henry Bodek arranged the financing.

Brooklyn-based Goose Property Management is planning a 14-story building at 172 Third Avenue with 148,906 gross square feet of multifamily space, along with ground-floor retail, sources said. 

The 172 Third Avenue site is steps from a Boerum Hill property at 268 Bergen Street that Goose Property Management is developing into multifamily. Goose acquired the former industrial manufacturing property for $40 million in April 2024 with plans for a 200-unit apartment complex, CO first reported at the time.

Officials at S3 Capital and Goose Property Management did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.