The Real Deal New York

Rabsky doubles unit count to 195 at LIC rental project

18-story, ODA-designed building gets renderings

November 06, 2015 04:00PM
By Mark Maurer Twitter_logo_blue copy

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Rendering of 42-20 27th Street in Long Island City (credit: ODA New York)

Rabsky Group doubled the number of apartments slated for its second Long Island City project, upping the unit count to 195 from 99, according to an amendment filed last week to a permit application.

ODA New York also unveiled renderings for the rental project known as Crescent Street, located at 42-20 27th Street, near 42nd Road.

Since plans were first filed in February, the proposed structure has now grown to 18 stories and 140,000 square feet – from 15 stories and 135,000 square feet. The proposed commercial component, however, shrunk from 20,000 square feet to just shy of 3,000 square feet.

Rabsky, a prolific Williamsburg-based development firm led by the notoriously private Simon Dushinsky and partner Isaac Rabinowitz, filed demolition plans in July. The new building is expected to be complete by summer 2017.

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Rendering of 42-20 27th Street in Long Island City (credit: ODA New York)

Chen told The Real Deal his firm designed the property as an “L-shaped oscillate.”

“Each end of the oscillate houses a five-story part-indoor, part-outdoor serenity garden, which begins on the second floor and serves as an amenity to the tenants,” Chen said. “These gardens also provide a pocket of greenery to the exterior view.”

Rabsy’s first Long Island City project is a 26-story, 210,000-square-foot rental building at 44-41 Purves Street that is expected to open by year’s end.

In 2013, the firm considered building a 44-story, 415-unit residential tower at 39-32 Northern Boulevard. In a span of five months, the firm bought a two-story building on the site for $35 million, then sold it for $53.3 million to Simon Baron Development, which sought to carry out the plans.

Rabsky recently made headlines for agreeing to buy a Downtown Brooklyn development site from Forest City Enterprises for $158 million — and for allegedly abusing preferential rents at the Driggs in Williamsburg. A representative for the firm denied any illegal activity at the latter property.