GOWANUS — DEVELOPERS CHARNEY COMPANIES, Tavros and Canyon Partners Real Estate secured $125.5 million in financing for Union Channel, a 224-unit rental building as part of the Gowanus Wharf development, according to ConnectCRE.
The seven-year fixed-rate loan was arranged by FLL through Freddie Mac. The financing supports the first completed residential building in the broader Gowanus Wharf project, a multi-building waterfront development along the Gowanus Canal.
Union Channel opened in 2025 and is planned as the first of four residential buildings in the complex. Additional buildings in the project include Douglass Port, Nevins Landing and 175 Third Street, which are expected to follow in later phases.
Developers said the financing allows them to continue executing the larger Gowanus Wharf plan as the neighborhood undergoes significant redevelopment following the area’s rezoning in 2022.
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