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Domain Cos. To Build Second MXD Property in Rezoned Brooklyn Neighborhood

The $140 million in financing will fund 255 multi-housing units and 18,000 square feet of commercial space located in the Gowanus neighborhood.

BROOKLYN, NY–Domain Cos., in partnership with Vorea Group and Mega Development, have secured a $140-million loan for Majestic, a ground-up, class A mixed-use development with 255 multi-housing units and 18,000 square feet of commercial space, located at 540 DeGraw St. in the rezoned Gowanus neighborhood of Brooklyn.

Scheduled for completion in 2025, the 12-story, mid-rise building will allocate 25% of the apartments as affordable. Domain is targeting a LEED Platinum certification for the property and is working on a partnership with Arts Gowanus to provide dedicated studio space for local artists.

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