Yoel Goldman sells majority stake in Gowanus dev site to Rabsky for $80M

All Year is retaining a 12.5% stake

Aug.August 13, 2019 12:12 PM
313-331 Bond Street in Gowanus (Credit: Google Maps and iStock)

313-331 Bond Street in Gowanus (Credit: Google Maps and iStock)

Yoel Goldman’s deal to sell a Gowanus development site has closed, and it turns out Goldman’s All Year Management will be retaining a minority stake in the project.

The buyer, a partnership led by Rabsky Group, is paying $80 million and leaving a 12.5 percent stake to Goldman’s firm, according to a disclosure filed with the Tel Aviv Stock Exchange late Monday afternoon New York time.

The transaction has yet to be recorded in city property records, but a memorandum of contract from March shows that the deal covers six parcels between Bond Street and the Gowanus Canal at 313-331 Bond Street.

All Year acquired the site for $61 million last July, with a $46 million financing package provided by Centennial Bank and Sherwood Equities. The firm could not be reached for comment.

Simon Dushinsky and Isaac Rabinowitz’s Rabsky Group is a major player in Brooklyn real estate. In March, the developer secured a six-month extension on $100 million in past-due loans for a development site at 625 and 635 Fulton Street in Downtown Brooklyn, which it co-owns with Joel Gluck’s Spencer Equity.

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