His development empire in tatters, Boaz Gilad finds a new job

Developer’s LinkedIn page now says he is vice president at FM Home Loans and founder of Amast Group

TRD New York /
Aug.August 29, 2019 05:36 PM
Boaz Gilad (Credit: iStock)

Boaz Gilad (Credit: iStock)

It seems Brooklyn’s most prolific developer has switched over to mortgage lending.

Boaz Gilad, the founder of Brookland Capital, recently posted two updates to his LinkedIn profile: one identifying him as a vice president at FM Home Loans in Brooklyn and another identifying him as the founder of Amast Group.

FM Home Loans is a mortgage lender in the tristate area and Florida that claims to close roughly $2 billion in loans per year. It was not immediately clear what Amast Group does.

Gilad did not respond to requests for comment.

Gilad co-founded Brookland Capital in 2012, and the company soon developed a reputation as one of the most prolific developers in Brooklyn and a pioneer in raising money on the Tel Aviv Stock Exchange.

However, the firm had been facing serious financial difficulties since at least 2018, and at the beginning of 2019, its bondholders appointed New Jersey landlord Ronel Ben-Dov to oversee Brookland Upreal, which issues bonds in Israel.

Brookland owes its bondholders $42 million over the next three years and has been looking to sell off several of its properties. Spruce Capital Partners purchased the company’s remaining condos at 554 4th Avenue in Park Slope for about $30 million, and Brooklyn developer Serabjit Singh is buying 257 Washington Avenue in Clinton Hill for $13.5 million.


Related Article

arrow_forward_ios
850 Metropolitan Avenue and Brookland CEO Boaz Gilad (Credit: Google Maps)

Brookland Capital loses control of another Brooklyn development

257 Washington Avenue and Boaz Gilad (Credit: Google Maps)

Financially strapped Brookland Capital sheds another Brooklyn development site

Brookland hit with eviction notice at its office, suits over unpaid construction work

554 4th Avenue in Brooklyn and Brookland Capital CEO Boaz Gilad (Credit: Google Maps)

Amid financial woes, Brookland Capital is selling another Brooklyn property

Icon Realty Capital will restructure a troubled portfolio of Brookland properties

Under pressure: Brookland Capital selling Marcy Ave resi building for $22M

Brookland is facing a crisis in Israel. What does that mean for its US portfolio?

After default in Tel Aviv, Boaz Gilad resigns from Brookland holding company

arrow_forward_ios