From Yahoo Finance: 2025-05-02 12:14:00

Charney Companies and Tavros secure $145m in loans for the development of 175 Third Street in Brooklyn, NYC. The project will offer one million square feet of space and 1,000 residences, becoming the largest building in Gowanus. The funding includes a $110m loan from Silver Point Capital and a $35m mezzanine loan.

The JV will have over two million square feet and 2,200 residences in Gowanus after completing 175 Third Street. The project will feature 37,000ft² of waterfront esplanade and open space, located across from Whole Foods. Architect James Corner Field Operations will lead the design and landscape elements.

Tavros sees 175 Third Street as the culmination of their efforts in creating Gowanus Wharf as a premier residential innovation in NYC. The project signifies the successful collaboration between public and private sectors to elevate the potential of the city. The JLL team represented the borrowers in securing the loans for the development.

Charney Companies and Tavros aim to deliver high-quality housing and contribute to the positive transformation of Gowanus. The project at 175 Third Street is a significant addition to their portfolio, reflecting their commitment to New Yorkers. The JV partners express excitement for the opportunity and the impact it will have on the vibrant neighborhood.

Read more: Charney Companies and Tavros secure $145m for Gowanus development in New York