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Domain, Vorea secure $140M construction loan for Gowanus apartments

Domain Companies' Matt Schwartz, Vorea Group's Peter Papamichael and rendering of 540 DeGraw Street (Getty, Domain Companies, Vorea Group)
Domain Companies’ Matt Schwartz, Vorea Group’s Peter Papamichael and rendering of 540 DeGraw Street (Getty, Domain Companies, Vorea Group)
Source: The Real Deal

Gowanus has it going on. Domain Companies has closed on a $142 million construction loan for its 270-unit development in Gowanus, the firm announced Friday. The project at 540 DeGraw Street already secured the coveted 421-a tax abatement. Now Domain has the capital to get building. The $230 million project is a collaboration between Domain and Vorea Group, the development firms headed by cousins Chris and Peter Papamichael. Goldman Sachs’ Urban Investment Group, a $1

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