Rabsky receives $88M refinancing for Williamsburg project

Mortgage from Berkadia is for Leonard Pointe at 395 Leonard Street

Jan.January 07, 2019 09:30 AM

Leonard Pointe at 395 Leonard Street in Williamsburg

The Rabsky Group has refinanced its Leonard Pointe building in Williamsburg with an $88.2 million mortgage from Berkadia.

The loan replaces prior $95 million in debt on the project from TD Bank, which Rabsky received in 2015.

Leonard Pointe is located at 395 Leonard Street in Brooklyn. It stands seven stories tall with 188 units, according to StreetEasy. Units range from $2,860 per month for a one bedroom to $4,615 for a two bedroom.

The luxury rental building sits a few blocks away from the L train, which as of last week will no longer see a full shutdown between Manhattan and Brooklyn.

Berkadia also just loaned Rabsky about $134.2 million to refinance Halo LIC, its apartment complex on Purves Street in Long Island City. Rabsky received a $65 million loan in November from an unnamed financial institution for its Broadway Triangle project in South Williamsburg as well.

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