NEW YORK CITY — A joint venture between two locally based development and investment firms, Domain Cos. and Silverstein Properties, has received a $205 million bridge loan for 420 Carroll Street, a 360-unit apartment complex located in the Gowanus area of Brooklyn. The property consists of two buildings that rise 16 and 21 stories and house 35 studios, 150 one-bedroom units, 64 two-bedroom residences and 20 three-bedroom apartments, 25 percent of which are reserved as affordable housing. Amenities include a resident clubroom and library, media and game room, demonstration kitchen with private dining space, a fitness center with a yoga studio, waterfront park, outdoor grilling and dining areas and a rooftop terrace. The property also features 12,000 square feet of ground-floor retail space, as well as 14,700 square feet of second-floor commercial space. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the loan through global investment management firm AllianceBernstein.
According to the deal team, the apartment building at 420 Carroll St. in Brooklyn is the first multi-housing property completed under the 2021 Gowanus rezoning initiative.
Joint Venture Receives $205M Bridge Loan for Brooklyn Apartment Complex
146