Mega Development


Permits Filed for 521 East Tremont Avenue in Crotona, The Bronx

Permits have been filed for a 14-story mixed-use building at 521 East Tremont Avenue in Crotona, The Bronx. Located at the intersection of 3rd Avenue and East Tremont Avenue, the corner lot is near the Tremont station, serviced by the MetroNorth train on the Harlem line. Emanuel Kokinakis of MEGA Development under the 521 Tremont Owner LLC is listed as the owner behind the applications.

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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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Rendering of Timbale Terrace, a new affordable housing property and future home of the Afro-Latin Music and Arts (ALMA) Center

HPD Reveals Plans for New Afro-Latin Music and Arts Center and Nearly 600 Affordable Homes in East Harlem

The New York City Department of Housing Development and Preservation (HPD) has revealed two large-scale mixed-use properties in East Harlem that will create a new Afro-Latin Music and Arts (ALMA) Center and 600 affordable housing units. The ALMA Center will be operated by the Afro Latin Jazz Alliance and the housing units will serve low-income families and the formerly homeless.

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