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204 4th Avenue Update 05/11/23

Developers Obtain $110M Loan for Gowanus Mixed-Use Project

Joint developers, Avery Hall and Gindi Capital, have just secured a $110 million loan for a 13-story, mixed-use project, set to rise at 204 4th Avenue (alternately addressed as 653 Union Street) in Brooklyn's Gowanus neighborhood. Issued by Affinius Capital, this influx of financing will be used to fund all construction costs from the ground up.

The new building will feature up-scale apartments, and square feet of ground floor retail space.

Plans also call for a number of tenant amenities including an outdoor pool and rooftop lounge, a fitness center, a co-working area, a dog bathing station, and a bicycle storage room.

Designed by , the structure will stand feet tall and total square feet. General contractor, , is overseeing construction at the top level, and ground broke on the project around this time last year.

Bound by Union Street, 4th Avenue, and Sackett Street, the project site spans square feet and was previously occupied by a Speedway gas station. Construction is ultimately estimated to finish sometime in 2024.

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