On March 10, 2026, a consortium of real estate firms, including Charney Companies, Tavros, and Canyon Partners Real Estate, announced the successful acquisition of $125.536 million in fixed-rate financing for Union Channel, a prominent rental building located in the rapidly developing Gowanus neighborhood of Brooklyn. This financing marks a significant milestone for the project, which comprises 224 residential units and is distinguished by its comprehensive amenities and appealing design.
Financing Details and Project Overview
The financing was arranged by JLL Capital Markets, which secured a seven-year fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a recognized Freddie Mac Optigo lender. Union Channel is the first of four planned buildings within the larger Gowanus Wharf development, a project poised to redefine residential living in this area.
Designed by Fogarty Finger Architecture, Union Channel features a nine-story structure that has quickly attracted interest since its launch a year ago. The building includes a range of amenities such as a rooftop swimming pool, a fitness center, a yoga studio, and a coworking lounge. In total, it offers 224 apartments, with 25% designated as affordable housing. Additionally, the property encompasses 22,226 square feet of retail space and 98 parking spaces, contributing to a vibrant community atmosphere.
Statements from Project Partners
“Union Channel is the cornerstone of our vision for Gowanus Wharf and reflects our conviction in the long-term trajectory of this neighborhood,” stated Justin Pelsinger, Partner and COO of Charney Companies. This sentiment was echoed by Colin Rankowitz, Partner at Tavros, who emphasized that securing the loan supports their commitment to delivering a high-quality residential experience in one of Brooklyn’s most dynamic communities.
Jacob Feingold, Partner and Head of Originations at Canyon Partners Real Estate, highlighted the investment’s significance: “We are excited to participate in the evolution of Gowanus through Union Channel, which represents a substantial step in establishing a new standard for residential living within the Gowanus Wharf community.” He noted that this investment underscores their commitment to high-quality, well-located multifamily assets.
The Gowanus Wharf project aims to ultimately feature around 2,000 residential units, complemented by a public park, a canal boardwalk, and a variety of indoor and outdoor amenities, including a basketball court and a health and wellness spa. The area has seen significant transformation following rezoning efforts, attracting both public and private investment, and positioning itself for sustained growth in residential and retail sectors.
Union Channel enjoys excellent accessibility, being located near the Union Street subway station and in close proximity to neighborhoods such as Carroll Gardens, Park Slope, and Downtown Brooklyn. According to Christopher Peck, Senior Managing Director at JLL Capital Markets, “Union Channel represents a best-in-class asset within one of Brooklyn’s most compelling long-term growth corridors.” He noted that Freddie Mac recognized the project’s strong sponsorship, quality construction, and strategic positioning within the Gowanus Wharf master plan.
As the Gowanus Wharf development unfolds, it promises to not only reshape the skyline but also enhance the lifestyle offerings of this vibrant Brooklyn community.
