Kasowitz Represents Incoco Capital in $785 Million Construction Capitalization for Waterfront Tower in Gowanus

Kasowitz represented Incoco Capital, a privately held investment firm, in the closing of the construction capitalization for 175 Third Street, the fifth building in the Gowanus Wharf campus.  Apollo and Affinius Capital are providing $600 million in debt financing while RXR Realty is providing $185 million in preferred equity investment.  Kasowitz also represented Incoco Capital in the joint venture negotiations with co-developers Charney Companies and Tavros Capital.  Once completed, 175 Third Street will be the largest building in Gowanus, with approximately 1.1 million square feet and nearly 1,100 residences spanning 27 stories. 

The Kasowitz team representing Incoco Capital was led by real estate transactions partner Darwin Huang and includes partner Matthew S. McElroy, and associate Christina M. Sim.

Select news coverage:

• The Real Deal: Charney, Tavros snag $785M financing for historic Gowanus project
• Commercial Observer: Apollo, Affinius Capital, RXR Invest $785M in Debt and Equity to Build 175 Third Street (subscription required)
• citybiz: Charney, Tavros and Incoco Capital Secure $785 Million Financing for Gowanus Wharf Tower
• Bisnow: Charney, Tavros Score $785M To Build Gowanus' Largest Building (subscription required)