Charney Wants to Turbocharge Fort Greene Condo Project

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Not satisfied with a 158-unit condominium project in Fort Greene, Sam Charney has a plan to go even bigger in the Brooklyn neighborhood.

Charney Companies is seeking a transit bonus authorization to expand the development at 95 Rockwell Place, Crain’s reported. The firm filed an application with the Department of City Planning on Wednesday.

Charney filed permits for the project in 2023, planning a 40-story building with 161,000 square feet of total space. The authorization application calls for another 10 stories and approximately 50 additional units, along with nearly 34,000 square feet of extra space.

If approved, the project would extend roughly 53 stories tall with more than 200 condos.

The city would be getting a benefit from the authorization, as Charney would make improvements to the nearby Nevins Street subway station, which serves four different transit lines. The developer would privately fund the upgrades — including improved accessibility and capacity — though it did not provide an expected cost.

The developer acquired the site near the Brooklyn Academy of Music and the Downtown Brooklyn Whole Foods in 2023. A previous developer had planned to build a 200-unit hotel on the property, but Charney in 2023 filed plans to build a condo tower.

Last year, BH3 Management and Madison Realty Capital provided a $135 million loan for the project, which will also include 1,400 square feet of commercial space. Construction is still in early stages and completion isn’t expected until 2028.

Charney is one of the most active residential developers in Brooklyn, particularly in Gowanus, where the company and its frequent collaborators at Tavros Capital have nearly 2,000 units planned across four buildings.

Charney Companies and Tavros secured $145 million in financing for their 1,000-unit rental development in Gowanus, which is set to be the biggest building in the neighborhood.

Silver Point Capital provided the acquisition and pre-development debt for the development at 175 Third Avenue alongside The Brodsky Organization and Tikehau Capital.

— Holden Walter-Warner