The final purchase price is in for Charney Companies and Tavros Capital’s latest site in Gowanus.
Charney and Tavros bought the site at 175 Third Street from Aby Rosen’s RFR Realty for $164 million, Crain’s reported. The deed was signed at the end of last month, but didn’t appear in the city register until this week.
During its seven-year ownership of the site — which it bought in 2018 for $115 million — RFR cleared the property, obtained excavation and foundation permits, qualified for tax incentives and helped an environmental clean-up program for the land, which is next to the Gowanus Canal as well as an arts center and Whole Foods Market.
The burden shifts to Charney and Tavros to usher the site into its next era.
The developers plan a 1,000-unit rental project at the site, which would be the largest building in the neighborhood. It’s part of Gowanus Wharf, a four-building campus that covers 2 million square feet and includes 2,200 apartments.
Andrew Sasson of Ackman-Ziff negotiated the sale. A JLL team led by Christopher Peck and Peter Rotchford arranged the financing, which includes $110 million from Silver Point Capital and $35 million from the Brodsky Organization and Tikehau Capital.
RFR agreed to sell the site to the Tavros-Charney team back in October after Rosen’s firm defaulted on $80 million in debt. A group of investors led by Madison Realty Capital purchased the non-performing debt last year and moved to foreclose.
Last year, Nicholas Silvers and Sam Charney’s companies scored two construction loans totaling $300 million for their planned 631,000-square-foot development at 310 and 340 Nevins Street, one of Gowanus’ larger development properties. Affinius Capital and Kennedy Wilson provided a $160 million loan for 340 Nevins Street, and TYKO Capital provided $140 million for 310 Nevins Street.
— Holden Walter-Warner