Company
Editorial monogram for Borough Developers — not an official logo.BD

Borough Developers

Brooklyn development firm

HeadquartersWilliamsburg, Brooklyn, New York
Key People
Editorial monogram for Shimon Kleinman — not an official logo.SK
Shimon Kleinman
Co-founder
2 Recorded Transactions
$83.5M Combined Transaction Value

Overview

Borough Developers is a Brooklyn development firm co-founded by Shimon Kleinman. It appears twice in Hush Street's records, both times as the acquiring and filing developer on a ground-up residential site: the $83.5 million purchase of the 485 Fulton Street assemblage in Downtown Brooklyn in September 2026, and the 67-75 Fourth Avenue site in Park Slope, bought from Tolib Mansurov and since demolished. Both projects were filed with the same architect, Kao Hwa Lee Architects.

Source: Commercial Observer

Transactions Tracked

The Oppenheim Collins Building at 485 Fulton Street, at the corner of Lawrence Street, Downtown Brooklyn
485 Fulton Street Acquisition (Sep. 2026) $83.5M
Buyer
Named as grantee on the ACRIS DEED document, via Four Eighty Five LLC / 485 Fulton Family Holdings LLC. Confirmed by Commercial Observer and The Real Deal. This is the transaction's full consideration, which Borough Developers paid as sole buyer.
BD
67-75 Fourth Avenue + 77 St. Marks Place, Park Slope -- 14-story, 99-unit building filed July 2025; demolition complete April 2026
Developer
Crain's reports a $24 million Park Slope assemblage sale from Tolib Mansurov to Shimon Kleinman. The reported figure covers Mansurov's wider Park Slope holdings rather than this site alone, so it is not recorded as this project's price.
Recorded on the Hush Street Project page as Shimon Kleinman personally, with Borough Developers named as the affiliated firm.

Known Entity Names on ACRIS Records

  • Four Eighty Five LLC — ACRIS grantee on the 485 Fulton Street deed Named on the recorded deed as the acquiring entity for the 485 Fulton Street assemblage, with Borough Developers identified as the principal in Commercial Observer's and The Real Deal's coverage of the same closing.
  • 485 Fulton Family Holdings LLC — Second recorded name on the same 485 Fulton Street transfer Appears alongside Four Eighty Five LLC on the ACRIS record for the September 2026 transfer. Recorded here as an alias on the document, not as evidence that the two LLCs are the same legal person.

Related Properties

485 Fulton Street
Buyer and filing developer. Plans filed August 2026 for a trio of 99-unit buildings (297 units); the lender and broker have separately described a larger 468-unit, four-building scheme, a discrepancy the Project record leaves unreconciled.
67-75 Fourth Avenue
Firm affiliated with Shimon Kleinman, who acquired the assembled parcels from Tolib Mansurov and filed the 14-story, 99-unit application (DOB job B01249173). Demolition completed April 2026.

Sources

  1. Borough Developers Closes on $84M Sale of Downtown Brooklyn Development Site — Commercial Observer
  2. Housing Filed for Downtown Brooklyn Site Near Macy's — Commercial Observer
  3. Borough Developers buys site for trio of 99-unit DoBro buildings — The Real Deal
  4. Alleged straw donor to Adams sells Park Slope assemblage for $24M — Crain's New York Business
  5. ACRIS Document Detail -- deed, $83,500,000 — NYC ACRIS

One transaction: the 485 Fulton Street acquisition, where Borough Developers is the ACRIS-recorded grantee. The $85 million BridgeCity Capital acquisition loan recorded against the same site is a separate instrument and is not added here -- doing so would count one site twice. The 67-75 Fourth Avenue purchase price from Tolib Mansurov has not been verified and contributes nothing.