A partnership of Domain Companies, the Urban Investment Group within Goldman Sachs Asset Management, Vorea Group and Mega Development has plans to develop 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.
JLL Capital Market worked on behalf of the borrower to arrange $140 million in construction financing for Majestic. The total capitalization of the project is $230 million.
Scheduled for completion in 2025, the 12-story, mid-rise building will allocate 25 percent 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.
Positioned as Brooklyn’s premier mixed-use property, Majestic will rise on the highest-profile inland site, situated directly adjacent to Thomas Gr
