251 Douglass Street in Brooklyn, New York

Joint Venture to Develop $184.3 Million Mixed-Use Development in Brooklyn, New York

by Channing Hamilton

BROOKLYN, N.Y. — Canyon Partners Real Estate LLC, Tavros and Charney Cos. have formed a joint venture to develop 251 Douglass Street, a mixed-use development in the Gowanus neighborhood of Brooklyn. The project is being capitalized with $64.4 million in equity and a $119.9 million senior construction loan through Barings. Jordan Roeschlaub, Dustin Stolly and Chris Kramer of Newmark led the team that arranged the financing.

The development will comprise 260 units across 15 stories, as well as ground floor retail space and parking. The project is also planned to offer 65 permanently affordable housing units. Income restrictions for these units have not yet been disclosed.

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