search

The Real Deal Logo

Trending

LA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsBuyer found for “whole kit and kaboodle” at Anchor Steam Brewery Buyer found for “whole kit and kaboodle” at Anchor Steam Brewery Bushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MHousing deal finally passes; here are the detailsHousing deal finally passes; here are the details
Commercial
New York

Rabsky lands $134M refi for LIC resi project

Money from Berkadia is for Rabsky’s Halo LIC project on Purves Street

Halo LIC at 44-35 Purves Street in Queens
Halo LIC at 44-35 Purves Street in Queens

Simon Dushinsky and Isaac Rabinowitz’s Rabsky Group received about $134.2 million from Berkadia to refinance its Long Island City apartment complex on Purves Street.

The financing package for the development, known as Halo LIC, also includes a gap mortgage for about $8.1 million, according to property records.

Sign Up for the undefined Newsletter

Rabsky purchased the Halo LIC site at 44-35 Purves Street in 2013 for $32.2 million, and it’s the company’s first project in the neighborhood. The complex has 284 units overall, according to StreetEasy.

Rabsky and Berkadia did not immediately respond to requests for comment.

Rabsky recently landed a $65 million loan for its controversial Broadway Triangle project in Williamsburg. The Real Deal ranked the firm as Brooklyn’s seventh most active developer earlier this year.

Tags
Long Island CityRabsky GroupReal Estate Finance