178 4th Avenue Update 02/15/24

Developer Lands $91M Loan for 17-Story Mixed-Use Project in Gowanus

Developer, , has just obtained a $91 million loan for a 17-story, mixed-use project, going up at 178 4th Avenue in Brooklyn's Gowanus neighborhood. Issued by JP Morgan Chase and Community Preservation Corporation (CPC), this influx of capital will be used to fund all construction costs from the ground up.

The building is set to contain residential units, atop square feet of commercial space (likely retail). The new development replaces a gas station, which used to occupy the property. The lot spans square feet and is located at the corner of 4th Avenue and Douglass Street.

Designed by , the structure will stand feet tall and total square feet. The project is being built in-house, and Artimus Construction Inc. is serving as the general contractor. Work is expected to wrap up by the summer of 2025.

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