Domes Properties secured $28 million in acquisition and construction financing from BridgeCity Capital for a 45-unit multifamily project at 87 Havemeyer Street in Williamsburg, Brooklyn. Domes acquired the three-parcel site for $13 million from Michael Pescatore.
The seven-story building will contain 47,000 gross square feet. Michael Krariem designed the project. Amenities include a fitness center, coworking space, a rooftop lounge, and an outdoor terrace.
EJ Ehrlich, director of originations at BridgeCity Capital, called Domes "an accomplished sponsor recognized for their development expertise and exceptional track record of execution." The loan marks the start of a new lending relationship between BridgeCity Capital and Domes Properties, a division of Brooklyn-based Domes Management.