JLL Provides $126M Refi for Gowanus Wharf’s Union Channel Residential Complex
A joint venture among Charney Companies, Tavros and Canyon Partners Real Estate secured the agency debt from JLL Real Estate Capital
By Brian Pascus March 10, 2026 1:34 pm
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The Gowanus Wharf superproject just landed another round of financing as the first of its four buildings nears the end of its inaugural year of operations.
A joint venture among Charney Companies, Tavros and Canyon Partners Real Estate has secured $125.5 million to refinance Union Channel, a 224-unit multifamily complex that opened last year in Gowanus, Brooklyn.
JLL Real Estate Capital provided the seven-year, fixed-rate loan through its Freddie Mac Optigo program. The JLL Capital Markets team of Christopher Peck, Peter Rotchford, Nicco Lupo and Michael Shmuely arranged the financing, according to an announcement Tuesday.
Colin Rankowitz, partner at Tavros, said in a statement that the new round of financing for Union Channel will allow his firm to deliver “a high-quality residential experience” in a neighborhood he called “one of Brooklyn’s most dynamic communities.”
Located at 240 Third Avenue in Gowanus, Brooklyn — a former industrial area that has been recently rezoned for residential development — Union Channel features 224 units, of which 25 percent have been reserved for affordable housing since it opened in June 2025.
The building includes a rooftop swimming pool, a fitness center, a yoga studio, a coworking lounge, and more than 22,000 square feet of ground-floor retail, along with nearly 100 parking spaces.
“Union Channel represents a best-in-class asset within one of Brooklyn’s most compelling long-term growth corridors,” said JLL’s Peck.
Union is the first of the four new buildings that will make up the main campus of Gowanus Wharf, a $1.5 billion mega-development that upon completion is expected to span 2.2 million square feet and deliver approximately 2,000 residences.
Other buildings that make up Gowanus Wharf are Douglass Port, a 15-story, 260-unit rental property; Nevins Landing, a two-tower residential development with 654 rental units; and 175 Third Street, a 27-story tower that will deliver 1,000 residential units and a 28,000-square-foot public waterfront esplanade to the neighborhood.
The entire mixed-use development will include a new public park, a canal boardwalk and 160,000 square feet of amenities, featuring indoor activities such as a health spa and outdoor amenities such as a basketball court.
The buildings are expected to be completed between 2026 and 2028.
“Union Channel is the cornerstone of our vision for Gowanus Wharf and reflects our conviction in the long-term trajectory of this neighborhood,” said Justin Pelsinger, partner and chief operating officer of Charney Companies.
Brian Pascus can be reached at bpascus@commercialobserver.com.
