Slate Property Group Secures $64M Refinancing for The Welz Apartments in Williamsburg
Slate Property Group has finalized a $64 million refinancing deal for The Welz, a luxury multifamily development located at 159 Boerum Street in East Williamsburg, Brooklyn. The financing was provided by Starwood Capital Group.
The 19-story, 116,000-square-foot residential property, developed by Slate in partnership with Avenue Realty Capital and designed by Aufgang Architects, comprises 162 units. Completed in February 2025, The Welz is currently 96% leased.
Newmark’s Jordan Roeschlaub, Daniel Fromm, Ryan Sullivan, and Capri Van Gilder arranged the refinancing. The same Newmark team had also secured $55 million in construction financing for the project in January 2023.
“The property’s expedited lease-up, with residences offering floor-to-ceiling windows, panoramic views, high-end finishes, and premium amenities, stands as a testament to the market’s enthusiasm,” said Martin Nussbaum, founding principal at Slate Property Group. “We are grateful to the Starwood Capital team for their support in realizing the opportunity that The Welz represents.”
