Charney Companies, Tavros and Canyon Partners Real Estate have secured $125.536 million in fixed-rate financing for Union Channel, a 224-unit residential rental building in Brooklyn’s Gowanus neighborhood. The financing was arranged by JLL Capital Markets and structured as a seven-year loan through Freddie Mac.
Union Channel is a nine-story residential property that debuted roughly a year ago and has attracted strong leasing demand. Designed by Fogarty Finger Architecture, the building features 224 apartments, with 25 percent designated as affordable housing. The property also includes more than 22,000 square feet of retail space and 98 parking spaces.
The development offers a range of amenities including a rooftop swimming pool and sundeck, fitness center, yoga studio, coworking lounge, sky lounge and a 24-hour attended lobby. The property represents the first completed building within the broader Gowanus Wharf campus, a multi-building residential development planned for the area.
Union Channel forms part of a larger four-building development at Gowanus Wharf. Additional buildings planned for the campus include Douglass Port, expected to open in late spring 2026, Nevins Landing scheduled for fall 2026, and 175 Third Street, designed by architect Bjarke Ingels. Once completed, the Gowanus Wharf project is expected to include about 2,000 residential units along with a public park, canal boardwalk and approximately 160,000 square feet of indoor and outdoor amenities such as a basketball court and health and wellness spa.
The project sits in a neighborhood undergoing significant redevelopment following a rezoning that has drawn both public and private investment. Union Channel benefits from proximity to the Union Street subway station as well as nearby neighborhoods including Carroll Gardens, Park Slope, Boerum Hill and Downtown Brooklyn.
Support: JLL’s Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Christopher Peck and Peter Rotchford, Senior Director Nicco Lupo and Managing Director Michael Shmuely.
KEY QUOTES:
“Union Channel is the cornerstone of our vision for Gowanus Wharf and reflects our conviction in the long-term trajectory of this neighborhood. Securing the loan enables us to continue executing our business plan while delivering a high-quality residential experience in one of Brooklyn’s most dynamic communities.”
Justin Pelsinger, Partner and COO of Charney Companies
“We are excited to participate in the evolution of Gowanus through Union Channel, which represents a significant step in establishing a new standard for residential living within the Gowanus Wharf community. This investment highlights our commitment to high-quality, well-located multifamily assets, and we value our partnership with Tavros Capital and Charney Companies in driving the long-term vision for this dynamic neighborhood.”
Jacob Feingold, Partner and Head of Originations at Canyon Partners Real Estate
“Union Channel represents a best-in-class asset within one of Brooklyn’s most compelling long-term growth corridors. Freddie Mac recognized the strength of the sponsorship, the quality of the construction and the property’s strategic positioning within the broader Gowanus Wharf master plan. We continue to see strong appetite from agency lenders for well-located, institutional-quality multifamily assets in New York City.”
Christopher Peck, Senior Managing Director at JLL Capital Markets
