Brooklyn

Aerial rendering of 540 DeGraw Street - Handel Architects

Developers Close on $140M Loan to Complete Majestic at 540 DeGraw Street in Gowanus, Brooklyn

JLL Capital Markets has arranged a $142 million construction loan to finance the completion of Majestic, a 12-story mixed-use building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, the Urban Investment Group within Goldman Sachs Asset Management, Vorea Group and Mega Development, the building will yield 18,000 square feet of commercial space and 255 rental units. A total 25 percent of the units will be designated for affordable housing. Future Green Studio is the landscape designer for the property, which is located between Nevins Street and 3rd Avenue.

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Affordable Housing Lottery Launches for Linden Terrace II in East New York, Brooklyn

The affordable housing lottery has launched for Linden Terrace II, an eight-story mixed-use building at 573 Emerald Street in East New York, Brooklyn. Designed by Magnusson Architecture and Planning and developed by Radson Development, the structure yields 160 residences. Available on NYC Housing Connect are 129 units for residents at 30 to 70 percent of the area median income (AMI), ranging in eligible income from $16,183 to $115,850.

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Housing Lottery Launches for 63 Lewis Avenue in Bed-Stuy, Brooklyn

The affordable housing lottery has launched for 63 Lewis Avenue, a five-story residential building in Bedford-Stuyvesant, Brooklyn. Designed by Z Architecture, the structure yields 16 residences and a garage with eight self-parking spaces. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $75,429 to $156,130.

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Excavation Begins at 30 India Street in Greenpoint, Brooklyn

Excavation has begun at 30 India Street, a six-story residential building in Greenpoint, Brooklyn. Designed by JWC Architect Engineer and developed by Titan Realty Construction, the 67-foot-tall structure will yield 52 rental apartments spread across 42,500 square feet, 3,500 square feet of commercial space, and 850 square feet of community facility space. YIMBY previously reported that Miriam and Ken Chan of 32 Tower LLC purchased the vacant property, which is located at the corner of India and West Streets, for $7.15 million in 2006.

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