Charney, Tavros JV Land $126M Refi for Brooklyn Community
The community was the first to be constructed as part of a four-building, mixed-income project.
Charney Cos., with joint venture partners Tavros and Canyon Partners Real Estate, has obtained a $125.5 million fixed-rate loan for Union Channel, a 224-unit mixed-income community located Brooklyn, N.Y. JLL arranged the financing, which includes a seven-year loan from Freddie Mac.
This round of financing will mature in 2033. Union Channel previously received a $107 million construction-to-permanent loan for the project in 2022 from the Banc of California, according to Yardi Matrix.
The community opened in June 2025. Floorplans range from studios to three-bedroom layouts across nine stories, and a quarter of the units are reserved as affordable housing.
Fogarty Finger Architecture led the design of Union Channel. Shared amenities at the development include a rooftop pool, a sundeck, a fitness center, a yoga studio as well as coworking and sky lounges. The property also has 22,226 square feet of ground-floor retail space and 98 parking spaces.
Located at 240 Third Ave., the community is near the Union Street subway station and is a mile from Barclays Center and Grand Army Plaza.
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Union Channel is the first of four buildings completed as part of Gowanus Wharf, a project that the partners are working on in Brooklyn’s Gowanus neighborhood. In May 2025, the firms purchased 175 Third St., where the final building will be constructed. Bjarke Ingels is leading the design of the property, which will be the largest of the four.
Other communities in the development include Douglass Port and Nevins Landing. Those two properties are set to open in spring and fall of this year, respectively. Gowanus is seeing a major transformation. At full build out, the campus will feature 2,000 residential units with market-rate and affordable apartments, a public park, a boardwalk and 160,000 square feet of amenity space.
JLL’s Senior Managing Directors Christopher Peck and Peter Rotchford, Senior Director Nicco Lupo and Managing Director Michael Shmuely represented the borrower in the transaction.
Tavros’ active New York projects
Tavros is a New York-based real estate developer with various projects underway across multiple boroughs. This is not the first project where the company has partnered with Charney Cos. In Queens’ Long Island City neighborhood, the partnership is developing a 636-condominium tower. In June 2025, the project received a $535 million construction loan from Madison Realty Capital, Kushner Cos. and OneIM. The project broke ground last August.
A separate project for Tavros is in its early stages after the company paid $143 million last month for 250 Water St., a one-acre development site in Lower Manhattan. The company is planning to build a 600-unit ground-up community with both affordable and market-rate apartments. Fogarty Finger has been brought on to design the property.
