#USA #Brooklyn #Charney Companies #95 Rockwell

Charney Companies Secures $135 Million for 95 Rockwell Place

In a significant advancement for Brooklyn's real estate landscape, Charney Companies has announced the closure of a $135 million construction loan, marking a pivotal step in the development of their latest project, 95 Rockwell Place. The 45-story condominium, located in the culturally vibrant Fort Greene neighborhood, is set to introduce 182 new residential units to a region historically characterized by single-family homes.

This financial backing comes from two notable supporters, BH3 Fund Advisors and Madison Realty Capital, who have played a critical role in the realization of this ambitious project. According to Justin Pelsinger, the COO of Charney Companies, this loan signifies a crucial moment that enables the delivery of high-quality housing to Fort Greene while enhancing the Brooklyn skyline.

Project Highlights

The 95 Rockwell Place development will not only cater to a diverse range of residents with its mix of studio, one-, two-, and three-bedroom units but also includes around 500 square feet of commercial space. The building promises to be equipped with a variety of amenities designed to elevate the living experience. Features will include an outdoor garden, fitness center, steam room, spa, co-working spaces, a café, and designated private areas for parties and gatherings.

Demolition on the site began in May 2024, setting the stage for the projected completion by Q4 2027. This timeline reflects the commitment to transforming Fort Greene into a more modern residential hub while respecting its rich cultural history.

Collaborative Efforts

One of the exciting aspects of this project is Charney's collaboration with Public Service, a branch of the acclaimed Public Records. Known for their unique music-driven design ethos, Public Service will curate the building's soundscape and select sustainable materials to ensure a calming atmosphere throughout the common spaces. This approach is intended to provide a distinctive feel that aligns with the vibrant community ethos of Brooklyn.

Adam Falk from BH3 Fund Advisors expressed enthusiasm about the project's location, situated at the nexus of several prominent Brooklyn neighborhoods and cultural centers. He sees 95 Rockwell as a necessary addition to the local landscape, providing a well-thought-out condominium that enhances the area while fulfilling unmet housing needs.

Strategic Location

95 Rockwell Place boasts excellent accessibility via public transportation, making it a desirable location for prospective residents. Close proximity to multiple subway lines, including the B, Q, R, 2, 3, 4, 5, and G trains, ensures easy commuting options for residents traveling throughout Brooklyn and Manhattan.

Key attractions such as Fort Greene Park, the Brooklyn Academy of Music, Greenlight Bookstore, and various dining options are all within walking distance, underscoring the appeal of this neighborhood to both residents and visitors alike.

Charney Companies' Growth

Charney Companies, established in 2013, has rapidly emerged as a prominent figure in real estate development across Brooklyn, Manhattan, and Queens. With a substantial portfolio that includes over 3,000 units currently underway and a total capitalization of $1 billion in the past year, the firm operates under a philosophy that emphasizes real estate not only as an investment but also as a vehicle for public good.

As Charney continues its endeavor to enrich the fabric of urban living, the 95 Rockwell Place project stands as a testament to their commitment to enhancing both the residential market and community at large.

For more details about Charney Companies and upcoming developments, you can visit their official website at Charney Companies.