The Real Deal New York

Rabsky lands $134M refi for LIC resi project

Money from Berkadia is for Rabsky’s Halo LIC project on Purves Street
By Eddie Small | December 31, 2018 01:30PM

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.

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.