DNS question

[Jozef Skvarcek <jozef@fatra.ph.hunter.cuny.edu>]

Hello,

Is it possible to create a new domain on a subnet that is already
registered? Here is my situation. Let's have subnet 111.111.111.255
which has domainname `university.edu'. Now I want to take one address
from the subnet, let's say 111.111.111.254, and register it as a 
new domain (outside from `university.edu' hierarchy) like `some.org'.
>From what I have read I do not have definitive answer but I doubt it will
work out. I am sorry if this is not entirely debian question but
the potential nameservers for the domain run it, at least.

Thank you,

Jozef Skvarcek
jskvarce@shiva.hunter.cuny.edu