Slate Property Group

Scale Lending, Slate Property Group’s debt arm, funds Beitel Group’s 450-unit project in Mott Haven, the Bronx, with $150 million for construction. Beitel acquired the site for $42 million in 2022. The development, located at 120 East 144th Street, will offer amenities like an outdoor courtyard, fitness center, and coworking space. It qualifies for a 421a tax abatement if completed by June 2026. Amid the tax break’s expiration and political debates over its renewal, developers secure private financing. Scale Lending recently closed nearly $600 million in loans for various projects, including multifamily buildings in Brooklyn and Jersey City.