Domain Companies Closes on $219M Financing for Mott Haven Mixed-Use
The Domain Companies has closed on $218.6 million in financing for Estela, a two-building mixed-use development that has brought 544 mixed-income apartment units and 10,000 square feet of ground-floor retail to Mott Haven in the South Bronx. Freddie Mac’s Forward Commitment program provided long-term permanent financing through JLL Real Estate Capital. The Urban Investment Group at Goldman Sachs Alternatives led the Opportunity Zone equity financing.
“We’re proud to deliver a transformational project that addresses a wide range of needs for the community with its much-needed housing and retail options,” said Matt Schwartz, co-CEO of The Domain Companies. “We’re grateful to once again partner with Freddie Mac to invest in the future of Mott Haven. With access to the new Bronx Point Park, Yankee Stadium, the Bronx Terminal Market, the Bronx Children’s Museum, and proximity to a wide array of transportation, Estela has proven attractive for residents looking to live in Mott Haven for generations to come.”
Estela is now 90% leased, with residents moving in as of May 2023.
