Rabsky Group lands $200M refi for 500-unit Bushwick building

Package from Berkadia Commercial Mortgage includes a roughly $62M mortgage

Aug.August 20, 2019 01:00 PM
The Rheingold at 10 Montieth Street in Bushwick (Credit: StreetEasy)

The Rheingold at 10 Montieth Street in Bushwick (Credit: StreetEasy)

Rabsky Group has received a refinancing package worth more than $200 million for its 500-unit residential building in Bushwick.

Berkadia Commercial Mortgage provided the developer with financing for its project at 10 Montieth Street on the Rheingold Brewery site, according to property records filed with the city Tuesday. The multifamily building is known as The Rheingold, and rents at available apartments range from $2,250 for a studio to $3,707 for a two-bedroom, according to StreetEasy.

The refinancing package includes a roughly $62.4 million mortgage.

Representatives for Rabsky Group and Berkadia did not respond to requests for comment.

Rabsky Group recently closed on purchasing 313-331 Bond Street in Gowanus from All Year Management for $95 million. All Year itself also recently received a $235 million senior loan from JPMorgan and Mack Real Estate Group for the second phase of the Rheingold Brewery project at 123 Melrose Street.

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