540 Degraw Street

Site Preparations Underway for Majestic at 540 DeGraw Street in Gowanus, Brooklyn

Crews are readying for excavation at the site of Majestic, a 12-story residential building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, Goldman Sachs Asset Management’s Urban Investment Group, Vorea Group, and Mega Development, the 146-foot-tall structure will span 244,882 square feet and yield 268 rental units with an average scope of 861 square feet, as well as 13,929 square feet of retail and office space and 45 enclosed parking spaces. Twenty-five percent of the apartments will be designated for affordable housing. Future Green Studio is the landscape designer and Mega Contracting Group is the general contractor for the property, which is alternately addressed as 537 Sackett Street and bound by DeGraw Street to the north, Sackett Street to the south, and Nevins Street to the west.

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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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Permits Filed for 540 Degraw Street in Gowanus, Brooklyn

Permits have been filed for an 11-story mixed-use building with affordable housing at 540 Degraw Street in Gowanus, Brooklyn. Spanning the length of Nevins Street between Degraw Street and Sackett Street, the lot also addressed as 537 Sackett Street. The site is walking distance from the Union Street subway station, serviced by the R train. The Vorea Group is listed as the owner behind the applications.

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