Canyon Partners Real Estate LLC, Tavros, and Charney Companies have formed a joint venture for the development of a 260-unit multifamily project at 251 Douglass Street in Gowanus, Brooklyn.  

The project will be a 15-story Class-A multifamily development with ground-floor retail, parking, and various amenities. The development is being funded with $64.4 million of equity and a $119.9 million senior construction loan provided by Barings.  

“As Gowanus becomes a central community for families and young professionals, there is a growing need for modern, affordable housing in the area,” said Nicholas Silvers, founding partner at Tavros. “With the neighborhood positioned for long-term growth, we look forward to providing apartment housing that will benefit both residents and the community.” 

The debt was arranged by Newmark, led by Jordan Roeschlaub and Dustin Stolly, and Chris Kramer.