Charney Companies and Tavros Capital have secured a $174.5 million capitalization package for 175 Third Street, a two-tower mixed-use development in Gowanus, Brooklyn. The financing, arranged by JLL Capital Markets, will support the acquisition and pre-development of the project’s site, which is slated to become the neighborhood’s largest building. When complete, the property will span approximately 1 million square feet and feature around 1,000 residential units.
175 Third Street will feature two high-rise structures with a mix of studio to three-bedroom apartments, ground-floor retail, and a variety of amenities. Pre-development efforts are currently underway, with construction expected to begin in mid-2026.
The capital package includes $110 million in senior financing from Silver Point Capital and $35 million in mezzanine financing from a partnership between Tikehau Capital and Brodsky Organization. Atlas Capital Group contributed $29.5 million in equity.
175 Third Street is within walking distance of several MTA subway stations, including the Union Street and 4th Avenue stations.
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1,000 units is really great.
“Go-wan-us” sung to the tune of “Mill Val-ley”