Charney Companies Secures $785 Million Financing For 175 3rd Street Mixed-use Development In Gowanus

The property asset involved in this transaction is a mixed-use development located at 175 3rd Street in Gowanus, Brooklyn. The total square footage of the asset is 1,100,000 and it comprises 1,100 units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $785,000,000
• Total Capital Raised: $785,000,000
• Debt: $600,000,000
• Equity: $185,000,000
• Loan Type: Construction
• Lender: Apollo, Affinius Capital & RXR
• Landlord: Charney Companies - Sam Charney & Justin Pelsinger; Tavros – Nick Silvers & Colin Rankowitz; & Incoco Capital
• Brokers: Christopher Peck, Peter Rotchford & Nicco Lupo - JLL

The deal featured key contributions from multiple organizations and professionals, highlighting their involvement in the financing and management of the property. Sam Charney and Justin Pelsinger from Charney Companies, along with Nick Silvers and Colin Rankowitz from Tavros, played significant roles as landlords in this transaction. The brokers from JLL, Christopher Peck, Peter Rotchford, and Nicco Lupo, facilitated the deal, bringing together the different parties involved in this substantial capital raise.