Charney Companies and Tavros Capital landed a $125 million Freddie Mac loan to refinance the first building in their Gowanus Wharf campus.
The developers, along with partner Canyon Partners Real Estate, secured the seven-year, fixed-rate loan for their 224-unit Union Channel building at 240 Third Avenue.
“Union Channel is the cornerstone of our vision for Gowanus Wharf and reflects our conviction in the long-term trajectory of this neighborhood,” said Charney Companies Chief Operating Officer Justin Pelsinger.
A JLL team led by Christopher Peck and Nicco Lupo arranged the financing.
Charney and Tavros are the most active developers in Gowanus following the neighborhood’s rezoning in 2022. They’re developing some 2,000 units across four buildings.
Union Channel, which opened last year, is the campus’ first building.
The next building, Douglass Port, is scheduled to open later this spring. Nevins Landing is slated to open in the fall and 175 Third Street, the largest property in the Gowanus Wharf campus, will be the final project.
The developers hired Bjarke Ingels to design 175 Third, where they signed the luxury Life Time gym to more than 85,000 square feet in December.
Charney and Tavros secured $145 million in acquisition and pre-construction financing in April for the project, which at 1,000 units will be the biggest building in the neighborhood.
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