**JV Secures $205M Takeout Loan for 420 Carroll Street Development in Gowanus**
The Domain Companies has secured a $205 million refinancing for 420 Carroll, the first residential development completed under the 2021 Gowanus rezoning initiative. The project is aimed at supporting significant residential growth in the Brooklyn neighborhood.
The financing was arranged by a JLL team that included senior managing directors Christopher Peck and Peter Rotchford, along with senior director Nicco Lupo. The bridge take-out loan was facilitated on behalf of The Domain Companies and Silverstein Properties, who jointly developed the 360-unit, Class A multifamily property. AllianceBernstein L.P. served as the lender.
“This new financing package demonstrates the success of 420 Carroll, a state-of-the-art project that delivered hundreds of much-needed homes, new opportunities for retail, and beautiful public outdoor space to Gowanus,” said Matt Schwartz, co-CEO of The Domain Companies.
Christopher Peck added, “420 Carroll Street stands as a pioneering development, and this transaction represents the first takeout financing in Gowanus—a significant milestone and catalyst for the neighborhood’s continued transformation.”
420 Carroll stands as a hallmark development in the Gowanus neighborhood and is viewed as a key example of the type of growth and revitalization envisioned under the rezoning plan.
