Three 22-story towers rising at the corner of Livingston Street and Flatbush Avenue in Downtown Brooklyn are nearing the finish line, with exterior work wrapping up and interior finishes underway on what will become 297 apartments. But the buildings, developed by Goose Property Management under CEO Yitzchok Katz, aren't just another luxury complex — they're a case study in how a single New York City tax law is reshaping the skyline one legal loophole at a time.
According to New York YIMBY, the complex at 362-372 Livingston Street stands 235 feet tall and will offer studio to two-bedroom layouts across three abutting buildings, with a façade of floor-to-ceiling windows framed by black metal paneling and balconies lined with glass railings. Ground-floor work remains obscured behind a wraparound sidewalk shed and wooden fencing, and the outlet expects construction to wrap sometime early next year. The site was designed by NY Building Associates Inc., and Galaxy Capital's Henry Bodek arranged $132 million in construction financing from Affinius Capital for the project.
Why Three Towers Instead of One
The reason the project isn't a single skyscraper comes down to arithmetic, not architecture. As reported by Commercial Observer, the complex was legally split into three separate 22-story buildings — with 362 and 370 Livingston recorded at 99 units each — specifically to keep every individual structure below the 100-unit threshold that triggers mandatory wage requirements and heightened affordability rules under New York's 485-x tax incentive program. Commercial Observer notes the 485-x program creates sharp financial disincentives for any development that reaches 100 apartments, making the 99-unit cutoff a powerful design constraint.
That threshold-dodging isn't unique to this block. Commercial Observer's citywide analysis of 312 project registrations under 485-x through April found that 99.1 percent contained fewer than 100 apartments, with the median project size under the program dropping to just 24 units. Goose Property Management has leaned on the identical playbook elsewhere in Brooklyn: the developer recently restructured a stalled Windsor Terrace site into four 99-unit buildings totaling nearly 400 apartments, a maneuver Hoodline detailed in its report on the Arrow Linen site restructuring. Another Downtown Brooklyn developer, Shimon Klein, used the exact same three-tower, 297-unit split at a separate site, according to Hoodline's prior coverage.
Amenities and Access
Per New York YIMBY, residential amenities at the complex will span an entire floor and include a fitness center, boxing studio, sauna, children's playroom, media lounge, coworking spaces, conference rooms, and an outdoor lounge. The complex also includes 5,000 square feet of ground-floor commercial space. The 370 and 372 Livingston buildings collectively span 270,000 square feet, while 362 Livingston spans 93,000 square feet on its own. Nearest subway access includes the 2, 3, 4, and 5 trains, which stop at the Nevins Street station in Brooklyn.
The site itself was previously home to a row of abutting four-story structures that were razed between late 2022 and early 2024, according to the same YIMBY report. Katz's Goose Property Management assembled the development parcel in August 2022, purchasing the properties at 358-376 Livingston Street and 60 Flatbush Avenue for $25.5 million from an investor group that included ISJ Management and Jemstone Group, as reported by The Real Deal. Public land records reviewed by PincusCo show that $93.7 million of the total $132 million construction loan was formally recorded in December 2024 under the borrower entity 372 Livingston LLC.
One Developer, Multiple Brooklyn Fronts
Katz's résumé extends beyond his own company: he also serves as property manager for Simon Dushinsky's Rabsky Group, one of Brooklyn's most active high-density residential developers, per The Real Deal's reporting. Goose's institutional relationships run deep in this particular corner of Downtown Brooklyn — directly across Flatbush Avenue, the developer built 570 Fulton Street, a 163-unit tower that secured an $80 million refinancing loan from Affinius Capital in May 2025, according to Multi-Housing News. That's the same lender backing the Livingston Street construction loan.
Goose isn't slowing down elsewhere in the borough either. In nearby Boerum Hill, the developer broke ground in April on a $166 million, 367-unit rental project spanning connected 11-story buildings at 280 Bergen Street and 265 Wyckoff Street, a project Hoodline covered as the Boerum Hill block digs in. That development followed a 2022 City Council rezoning under Mandatory Inclusionary Housing rules.
A Changing Corridor
The Livingston Street towers are rising amid a broader wave of commercial and residential investment along this stretch of Downtown Brooklyn. Nearby, the former Macy's building at 422 Fulton Street is undergoing a 440,000-square-foot transformation into the BKX entertainment and retail complex, featuring multi-level shopping, dining, and central atrium spaces. Once finished, Goose Property Management will market the completed three-building Livingston Street complex under the residential brand name Luma Living, offering all 297 units across the 22-story towers.
