Tavros Holdings, Charney Companies, and Incoco Capital have successfully secured $300 million in funding for their joint venture development at 310 and 340 Nevins Street in Brooklyn’s Gowanus neighborhood. The project will consist of 668 residential units, with a quarter designated as permanently affordable. Additionally, it will feature over half an acre of public waterfront esplanade and open space.
The financing was obtained through two construction loans: $160 million from Affinius Capital and Kennedy Wilson for the development at 340 Nevins Street, and $140 million from TYKO Capital for the project at 310 Nevins Street. Designed by Fogarty Finger Architects and James Corner Field Operations, this expansive development spans over 631,000 square feet on a sprawling area of land measuring approximately2.3 acres along the Gowanus Canal.
According to Colin Rankowitz – partner at Tavros – “These buildings are set to provide much-needed housing options to New York City while also contributing significantly towards the revitalization efforts along the Gowanus Canal by creating a cohesive waterfront esplanade accessible to all members of our community.”
Conveniently located near Union Street subway station,the project offers studio up-to three-bedroom units cateringto diverse needs.Newmark played an instrumental rolein arranging this financing deal with Jordan Roeschlaub leadingthe team alongside Chris Kramerand Michael Dorfman.
