Charney, Tarvros land $125M Gowanus refi

March 9, 2026 / no comments

Charney Companies and Tavros Capital landed a $125 million Freddie Mac loan to refinance the first building in their Gowanus Wharf campus. The developers, along with partner Canyon Partners Real Estate, secured the seven-year, fixed-rate loan for their 224-unit Union Channel building at 240 Third Avenue. “Union Channel is the cornerstone of our vision for Gowanus Wharf and reflects our conviction in the long-term trajectory of this neighborhood,” said Charney Companies Chief Operating Officer Justin Pelsinger. A JLL team led by Christopher Peck and Nicco Lupo arranged the financing. Charney and Tavros are the most active developers in Gowanus following […]

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Developer trio pleads guilty in 421a fraud cases

March 9, 2026 / no comments

Three developers indicted more than three years ago on criminal charges connected to the 421a tax abatement program pleaded guilty to lesser charges. Mendel Gold, Joel Kohn and Alen Paknoush pleaded guilty to filing a false instrument, Crain’s reported, meaning knowingly giving an inaccurate document to the government. They were initially charged with grand larceny and tax fraud as well, along with three other developers. Each of the Brooklyn players was accused by District Attorney Alvin Bragg of charging at least $1,000 more in rent for units built under 421a, which carried approved affordable housing rates. Gold allegedly defrauded the […]

This article originally appeared on The Real Deal. Click here to read the full story.

AI startup Clay inks 163K sf lease at SL Green’s 11 Madison

March 9, 2026 / no comments

An artificial intelligence startup is taking a big bite of office space at SL Green and Prudential Financial’s 11 Madison Avenue, as the sector continues to snap up prime Manhattan office space. Brooklyn-based firm Clay signed a 10-year lease for 163,000 square feet at the 2.3 million-square-foot tower, the landlord announced. The deal brings the building to 100 percent occupancy. The nine-year-old company will occupy the entire 14th and 16th floors and part of the 15th floor of the 30-story building, which sits on a full block between Park Avenue South and Madison Avenue and East 24th and 25th streets. […]

This article originally appeared on The Real Deal. Click here to read the full story.