The Real Deal New York

Rabsky Development hopes to bring 942-foot-tall building to DoBro

December 14, 2018 10:30AM

625 Fulton Street

Downtown Brooklyn could be getting another megaproject.

Rabsky Development  hopes to build a 942-foot-tall building with 902 apartments, 739,000 square feet of office space and a 640-seat public elementary school at 625 Fulton Street, according to Politico. The project would span 1.8 million square feet overall, and its public review process will start in January.

The project would be the densest development in Brooklyn if it is approved as-is. Rabsky framed it as an attempt to bring more office space to Downtown Brooklyn.

The firm is also working on the massive and controversial Broadway Triangle project in South Williamsburg, where they recently landed a $65 million loan.

Rabsky would not need a residential rezoning for the project given the allowed density on the site, so the project would not be subject to city regulations from 2016 that mandate affordable apartments in exchange for higher density. The firm still plans to include some affordable housing with the project but not as much as the policy would call for.

Local City Council member Laurie Cumbo told Politico she planned to push for a project of this scale to include a significant affordable component.

“You can’t allow a project of that magnitude and scale to be discussed without affordability being at the forefront of the table,” she said. “I’m looking for both residential and commercial [affordability].” [Politico]  – Eddie Small