Midtown Investment Lands $200M for Brooklyn Project
Affinius Capital originated the note.
Midtown Investment & Development has obtained a $200 million construction loan for 200 Douglas, a 276-unit Brooklyn project. Affinius Capital provided the note in a deal arranged by JLL.
Site work is already underway at 200 Douglass St. in Gowanus, according to New York YIMBY. Completion is scheduled for the fall of 2027.
The transit-oriented property is close to several subway stations, as well as Interstate 278. Midtown Manhattan is roughly 8 miles north, while JFK International Airport is 17 miles away.
The 21-story development designed by Ismael Leyva Architects will comprise studio to three-bedroom floorplans, as well as 20,000 square feet of ground-floor retail space.
Amenities are to include an 85-foot outdoor lap pool, cabanas, multiple rooftop terraces, fire pits and grilling areas. The community will also have fitness and yoga studios, a coworking space, a basketball court, a children’s playroom, a dog washing station and a multi-sport simulator.
JLL Senior Managing Director Scott Aiese and Managing Director Lauren Kaufman arranged the financing on behalf of Midtown.
Multifamily loan originations rose 27 percent year-over-year in the third quarter of 2025, according to a Mortgage Bankers Association report. Quarter-over-quarter growth was more modest, at 12 percent, suggesting lenders remain cautious against a backdrop of softer market conditions.
More communities to come online in Brooklyn
Brooklyn had 65 multifamily construction projects underway in early December, set to comprise 20,445 units upon completion, Yardi Matrix data shows. Of the total, 10 developments broke ground this year.
In September, Gilbane Development, Blue Sea Development and Artspace started work on Brownsville Arts Center & Apartments, a 283-unit, $254 million project. The affordable housing community is set to come online in 2027.
Developers are set to continue breaking ground on multifamily properties as more projects land financing. Last week, a joint venture of Landau Properties, Third Millennium Group and Midtown Equities obtained $213 million in predevelopment financing for 205 Montague.
