Overview
- Charney Companies, Tavros and Incoco Capital have obtained $785 million in construction financing, with Apollo and Affinius supplying $600 million of debt and RXR providing $185 million of equity.
- The planned 27‑story building will total roughly 1.1 million square feet, deliver about 1,100 apartments with 25 percent set as affordable, and include large amenities such as an 85,000‑square‑foot Life Time fitness club and a 28,000‑square‑foot public waterfront esplanade.
- The financing was arranged by a JLL Capital Markets team and follows the sponsors’ multi‑year buildout of the nearby Gowanus Wharf campus, where recent buildings have opened and another is due later this year.
- Sponsors acquired the site from RFR Holding about a year ago and completed talks with RXR for the equity stake as they moved to lock construction capital and begin on‑site work toward completion.
- The deal signals continued institutional appetite to fund large New York housing projects and will increase local housing supply while adding public waterfront space and community‑focused amenities to the rezoning‑driven Gowanus campus.