RXR has committed $185 million in equity as part of a $785 million debt and equity capitalization for 175 Third Street, a 1.1 million-square-foot mixed-use development at Brooklyn’s Gowanus Wharf.
The financing package, which includes $600 million in debt from Apollo and Affinius Capital and $185 in equity from RXR, will support the construction of a 27-story project developed by Charney Companies, Tavros, and Incoco Capital. Once completed, the development will deliver approximately 1,100 residential units — 25% of which will be affordable — along with an 85,000-square-foot Life Time fitness center, waterfront public open space, artist studios, and a range of residential amenities, further advancing the transformation of the Gowanus waterfront.
