JLL arranges financing for next phase of Greenpoint Landing by Domain Companies, LMXD & Park Tower Group

Brooklyn, NY The Domain Companies and LMXD have revealed a plan for three new mixed-income residential rental towers at Greenpoint Landing, which will deliver more than 1,000 new apartments, including 300 affordable apartments, to the waterfront in Greenpoint. Developed by a joint venture partnership between Domain and LMXD (an affiliate of L+M Companies) and Park Tower Group, the project will include more than 20,000 s/f of retail space along West, Freeman and Eagle Sts. and a waterfront public park near the Greenpoint ferry stop. 

The transaction includes the partnership simultaneously closing on an $81 million senior land loan from Bank OZK and mezzanine financing of $33 million from InterVest capital partners. InterVest also provided Domain and LMXD with a structured equity solution for the acquisition and pre-development costs. Christopher Peck, Nicco Lupo, Rob Hinckley, Scott Aiese and Jonathan Faxon from the JLL Capital Markets team arranged the financing for the transaction. Hunton Andrews Kurth represented the Domain and LMXD partnership. The project is expected to go vertical in summer of 2026. The design team includes Handel Architects and landscape design firm, Field Operations.

The project builds on the high-end, mixed-income housing development that comprises Greenpoint Landing. With Park Tower Group as the master developer, Greenpoint Landing is a 22-acre site situated along a half-mile of East River waterfront with sweeping views of the Manhattan skyline. To date, nine parcels totaling close to 3,000 apartments have been developed within the broader master plan, with two sites remaining. When complete, Greenpoint Landing will include an estimated 5,500 residential units, including affordable housing, and close to five acres of public open space designed by Field Operations. Greenpoint Landing is a product of the 2005 Greenpoint-Williamsburg rezoning, when the City of New York designated the site for residential use. 

“Having developed 1133 Manhattan Ave., the first large-scale mixed-use project in Northern Greenpoint in 2014, Domain has been active in the neighborhood for more than a decade and seen how both the community and its needs have transformed over time,” said Matt Schwartz, co-CEO of The Domain Companies. 

“At Greenpoint Landing, we will not only create high-quality mixed-income housing in one of NYC’s most dynamic neighborhoods, but will also deliver the community amenities the area needs with expansive opportunities for retail and a new extension of the waterfront public park.”

“We are excited to partner once again with Domain and Park Tower to transform this incredible waterfront site,” said David Dishy, chief executive officer of LMXD. “Having built the first affordable buildings of Greenpoint Landing with Park Tower Group more than a decade ago, it is especially rewarding to see how inviting and vibrant this whole waterfront community has become and to see it emerge as one of the city’s most sought-after neighborhoods.”

“We are thrilled to enter into a joint venture partnership with Domain and LMXD on the next phase of Greenpoint Landing. Both firms have deep ties to this area, and we look forward to bringing more housing – including much-needed affordable housing – and waterfront access to the neighborhood,” said Marian Klein, president of Park Tower Group.

With more than 20,000 s/f of retail space to be leased by Igloo, a brokerage dedicated to building dynamic retail experiences, the project will complement the ongoing development at Greenpoint Landing, which has seen an influx of retail and community infrastructure to support residential growth. In addition to the restaurants, cafes, grocers, and other businesses that have opened at Greenpoint Landing, several significant additions to the neighborhood were recently announced. This spring, the City announced plans to build a new elementary school in the heart of Greenpoint Landing, and the New York Liberty unveiled plans for a facility just blocks away on the Greenpoint waterfront. These two projects represent significant investments in the neighborhood and will bolster Greenpoint’s residential community. 

The project is a continuation of both Domain’s and LMXD’s work in Greenpoint and nearby neighborhoods. In addition to Domain’s Eleven33 developed in 2014, L+M Companies affiliate L+M Development Partners developed 300 apartments in 2014-2017 at Greenpoint Landing in a joint venture with Park Tower Group. Domain and LMXD have also had success in their previous partnerships together, including the recently opened 499-unit residential rental project named Jasper in nearby Hunter’s Point, which is leasing rapidly since opening earlier this year. Jasper opened with its retail fully leased – comprising ten tenants across its 30,000 s/f of ground floor space.