The Domain Companies has closed $218.6 million in financing for Estela, a two-building, mixed-income development in Mott Haven, The Bronx, which includes 544 market-rate and affordable housing units. With sustainable features, extensive amenities, and a retail space anchored by Mott Haven Marketplace, the project is already 90% leased.

“We’re proud to deliver a transformational project that addresses a wide range of needs for the community with its much-needed housing and retail options,” said Matt Schwartz, co-CEO of The Domain Companies. “We’re grateful to once again partner with Freddie Mac to invest in the future of Mott Haven. With access to the new Bronx Point Park, Yankee Stadium, the Bronx Terminal Market, the Bronx Children’s Museum, and proximity to a wide array of transportation, Estela has proven attractive for residents looking to live in Mott Haven for generations to come.”

Mott Haven's Estela development has secured $218.6 million in financing, with long-term permanent financing provided by Freddie Mac’s Forward Commitment program through JLL Real Estate Capital. The Opportunity Zone equity financing was led by the Urban Investment Group at Goldman Sachs Alternatives.

The studios, built as part of a Community Benefits Agreement signed ahead of the Gowanus rezoning, are set to open this spring at a new coworking space, The Shop, at 420 Carroll St. Anne Olsen, Director of Coworking at The Domain Companies — the developer behind 420 Carroll — said the company “couldn’t be more excited” to provide the studios.

Mott Haven Spirits, a new wine store, officially opened its doors on Dec. 20, occupying the ground floor of Estela, a two-building rental development from the Domain Companies in Mott Haven. The shop aims to offer more than just a place to purchase wine and spirits—it’s focused on building connections and creating memorable experiences for its customers.

The Domain Companies in partnership with LMXD, the VOREA Group and Bridge Investment Group, has launched a housing lottery for 150 units in a mixed-use building located at 2-33 50th Ave. in Long Island City.

Known as Jasper Hunter’s Point Apartments, the development has a total of 499 units, 349 of which are market rate apartments. The other 150 units have been set aside for those earning 130% of the area median income.

The Domain Companies, LMXD, the Vorea Group and Bridge Investment Group have executed three new retail leases at Jasper, a mixed-use development in Long Island City, comprising 6,115 square feet of Jasper’s 33,340 square feet of retail space. Combined with the four other leases previously announced at the building, Jasper is 83% retail leased prior to completion of construction in Q1 2025.

Gowanus has undergone huge transformation in the last decade—its proximity to some of the best and coolest neighborhoods in Brooklyn have made it the prime spot to be right now despite its canal. Whole Foods moving in was just the tip of the iceberg.

And now that the neighborhood is one of the most desirable in NYC, moving here is more difficult than ever. Luckily, the city has made it possible.

The Shop Workspace will open a new 12,000-square-foot flex office location in Brooklyn, N.Y., at 420 Carroll, a 380,071-square-foot mixed-use development in the Gowanus neighborhood.

The new space will open in early 2025 on the building’s second floor and marks the flex office provider’s third location nationwide. The other two are in Salt Lake City and New Orleans.

An affordable housing lottery opened for the new Gowanus Canal towers at 420 Carroll Street, according to Brownstoner. The development, part of the Gowanus rezoning initiative, offers 89 rent-stabilized income-restricted apartments, including studios starting at $784 per month. The project, expected to be LEED-certified, features modern amenities like smart controls, Wi-Fi enabled appliances, a gym, a cinema and a rooftop terrace.