Global Holdings Makes $33M Equity Investment in Gowanus Mixed-Use Residence

Global Holdings, an international real estate development and investment firm led by Eyal Ofer, has made a $33 million equity investment in 450 Union Street, a 158-unit, mixed-use residential tower located along the Gowanus Canal in Brooklyn, the firm told Commercial Observer. 

The residential tower was developed in partnership with real estate companies MacArthur Holdings and Tankhouse. 

With Global joining the team, the 20-story rental building will be branded as Anagram Gowanus. It will be the fifth New York City building under Global’s Anagram brand, and the first in an outer borough. 

“Our fifth Anagram property brings Global’s unique approach to New York living to Brooklyn for the first time, building on the success of Anagram Columbus Circle and the recent launch of Anagram Turtle Bay,” Ofer said in a statement. “We’re collaborating with like-minded partners to deliver not just best-in-class housing, but a long-term community asset that meets the lifestyle expectations of today’s sophisticated renter.”

JLL’s Christopher Peck, Nicco Lupo, Winfield Clifford, Jonathan Faxon and Peter Rotchford represented MacArthur and Tankhouse, as JLL arranged the entire $123 million in construction financing for 450 Union Street. In addition to the $33 million investment from Global, IDB Bank and Bank Hapoalim provided a $90 million construction loan, JLL said. 

“MacArthur Holdings, Tankhouse and Global Holdings are combining decades of expertise to deliver a forward-thinking design that meets the ever-growing demand for modern, amenity-rich living spaces in New York City,” Clifford said in a statement.

Anagram Gowanus is currently under construction and is expected to be completed in the second quarter of 2027. It will be a luxury building with a mix of market-rate and affordable units. Amenities in the building will include fitness and coworking spaces, a children’s playroom, landscaped outdoor areas, and rooftop terraces.

“What we set out to accomplish with Anagram Gowanus is a residential offering that exceeds the luxury experience — on par with the Anagram brand — while remaining anchored in the authentic and community-oriented borough of Brooklyn,” Sebastian Mendez, co-founder of Tankhouse, said in a statement. “Each and every design element thoughtfully creates community within the building, from the stunning, natural light to the shared amenity spaces to the building’s orientation.” 

The property will also feature 22,000 square feet of commercial and retail space, as well as a new 5,700-square-foot waterfront esplanade.

“Anagram Gowanus is a testament to what’s possible through a purposeful, strategic and creative partnership that elevates the residential experience in the neighborhood in which it’s built,” Howard Katz, principal at MacArthur, said in a statement. 

The Gowanus neighborhood of Brooklyn has been undergoing a massive revitalization initiative, with a number of residential buildings in the works, pollution cleanup efforts, and the addition of more retail and public spaces. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.