Tankhouse JV Lands $123M for Brooklyn Project
The 158-unit development will have 40 affordable apartments.
A joint venture of MacArthur Holdings and Tankhouse has obtained $123 million in financing for Anagram Gowanus, a planned 158-unit community in Brooklyn. Bank Hapoalim and IDB Bank provided a $90 million construction loan, while Eyal Ofer’s Global Holdings Management Group made a $33 million equity investment.
JLL Capital Markets brokered the deal on behalf of the borrowers. Partners on the project include design firm SO-IL and Magnusson Architecture & Planning as architect of record, as well as civil engineer Langan and structural engineer Thornton Tomasetti.
The development is at 450 Union St., along the Gowanus Canal, near Interstate 478 and 24 miles from JFK International Airport. The transit-oriented high-rise will also be 7 miles from downtown Jersey City, N.J., and less than 4 miles from Manhattan’s Financial District.
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Set to come online in the second quarter of 2027, the 20-story building will encompass studio, one-, two- and three-bedroom apartments, as well as 22,000 square feet of ground-floor retail space. Of the total, 40 units will be reserved as affordable.
Common-area amenities will include a fitness center, children’s playroom, coworking space and multiple outdoor areas, as well as an indoor/outdoor rooftop lounge. The project will also have 13,000 square feet of below-grade parking.
JLL Senior Managing Directors Christopher Peck and Peter Rotchford, Senior Director Nicco Lupo, Managing Director Winfield Clifford and Vice President Jonathan Faxon led the team that represented the borrowers.
Brooklyn’s multifamily footprint set to grow
Brooklyn had 72 projects under construction as of July, set to add more than 22,700 units upon completion, according to Yardi Matrix information. Three communities, encompassing 927 units, broke ground in the first half of the year.
In May, Goose Property Management obtained $166 million for the development of a four-building mixed-use community in Brooklyn. The project will have 367 units, along with commercial space.
During that same month, New York City Council approved the Atlantic Avenue Mixed Use plan, a rezoning that will lead to 4,600 new apartments, including 1,900 affordable units. The initiative targets about two dozen blocks.
