Domain Companies and LMXD Pay $122M for Development Site Stake
By Larry Getlen August 28, 2025 4:50 pm
reprints
Developers Domain Companies and LMXD have purchased a 76 percent stake in a development site in Greenpoint, Brooklyn, that is slated to see three new residential towers rise by next summer.
The companies used the entity GPLC Owner, according to PincusCo, which was first to report the deal. They paid around $122 million to Park Tower Group, which is also their partner in a joint venture to develop the three buildings and the master developer of the site. The project is part of a larger development known as Greenpoint Landing.
The towers, with addresses 21 Freeman Street, 37 Freeman Street and 209 West Street, are being designed by Handel Architects and will contain more than 1,000 apartments, with 300 affordable units. The development will also include 20,000 square feet of retail and a new public park, according to previous reporting in Commercial Observer.
Bank OZK provided an $81 million senior land loan to Domain and LMXD, while InterVest Capital Partners provided $33 million in mezzanine financing, according to CO.
According to plans Park Tower Group filed in March, 21 Freeman Street will contain 503 units, 37 Freeman Street will offer 298 units and 209 West Street will have 224 units. Retail brokerage Igloo is marketing the retail portion of the development.
Domain Companies and LMXD did not immediately respond to requests for comment. Park Tower Group could not be reached for comment.
Larry Getlen can be reached at lgetlen@commercialobserver.com.
