Canyon Partners, Tavros, and Charney Companies Add Second Multifamily Development to Brooklyn Portfolio
The development, 251 Douglass Street, is in a qualified opportunity zone and will offer 260 multifamily rental units
The Class-A multifamily development is 15 stories, with ground-floor retail, parking, and a significant amenity package. The Project features several environmental, social and governance (ESG) attributes, including 65 permanently affordable housing units, an energy efficient design and space allocated to community and maker retail use.
In January 2023, Canyon, Tavros, and Charney announced a joint venture for the development of 585 Union Street, a 224-unit multifamily development also located in the Gowanus neighborhood.
"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 Gowanus neighborhood is a diverse metropolitan area that has undergone significant transformative growth. 251 Douglass will be central to Gowanus' range of retail, entertainment and hospitality offerings, including Whole Foods, the
"251 Douglass will offer a modern, highly amenitized living community to Gowanus' residents. Its proximity to
Canyon's investment marks its twelfth qualified opportunity zone investment, totaling
About Canyon Partners LLC
Founded in 1991, Canyon Partners Real Estate LLC ("Canyon") is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately
For more information visit: www.canyonpartners.com.
About Tavros
Founded in 2009, Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on
For more information visit: https://www.tavroscapital.com/
About Charney Companies
Founded in 2012 Charney Companies is a fully integrated real estate development, construction, and management firm with a focus on developing, owning, and operating first-class residential and commercial real estate in the
For more information visit: https://charneycompanies.com/
About Barings
Barings is a
*Assets under management as of June 30, 2023
For more information visit: https://www.barings.com/
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately
For more information visit nmrk.com or follow @newmark.
Contact
Canyon Partners
Kris Cole
(310) 614 9208
Pro-Canyon@prosek.com
Tavros
Barbara Wagner
barbara@bwagnerpr.com
Charney
Barbara Wagner
barbara@bwagnerpr.com
Barings
Media Relations
MediaRelations@barings.com
Newmark
Brandon Levesque
Brandon.Levesque@nmrk.com
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SOURCE Canyon Partners LLC