Brightshore Capital (formerly GTIS Partners), a real estate investment firm headquartered in New York, has acquired DŌMI, a newly constructed, 190-unit luxury multifamily property located at 29-24 40th Ave. in Long Island City, Queens. Brightshore acquired the property through its Opportunity Zone Fund II and financed it with a $98.5 million loan from Affinius Capital. The transaction reflects the firm’s continued focus on investing in high-quality residential properties in supply-constrained markets with attractive long-term fundamentals. The property was acquired from a joint venture of SB Development, Hazelton Capital Group and Avenue Realty Capital.
Located in the Dutch Kills neighborhood of Long Island City, DŌMI comprises two residential towers with approximately 125,000 square feet of residential space and 4,876 square feet of retail space. The property includes 133 market-rate apartments and 57 affordable apartments and benefits from New York City’s 421-a Afford
