Simon Dushinky’s Rabsky Group is piecing together its Broadway Triangle master plan, one project at a time.
An affiliate of the firm filed plans for an eight-story building at 352 Wallabout Street in South Williamsburg, Crain’s reported. The Brooklyn building is slated to span 160,000 square feet and include ground-floor retail and an ambulatory diagnostics center on the second floor.
The upper floors of the property will include 58 units, but it’s unclear if those will be rentals or condominiums. There will also be an 85-space parking garage and bicycle storage.
The same affiliate of Rabsky also filed plans this year for 11 Gerry Street, which is situated on the same land as the Wallabout Street address, but with a different entrance. Those plans, reported by New York YIMBY, feature the same retail and ambulatory center aspects, but encompasses 672,000 square feet and has 120 mandatory inclusion apartments.
Dushinsky did not immediately respond to a request for comment from The Real Deal regarding the site.
Deutsche Bank in June provided Rabsky with a $140 million loan, including $40 million in new debt, to finance the construction of the Broadway Triangle.
The full development is expected to span two full blocks and include 1,146 apartments, 63,000 square feet of retail space and 405 parking spaces. The site is bounded by Harrison Avenue, Walton Street, Union Avenue and Gerry Street.
Rabsky paid $12.8 million in 2012 to purchase the nine-site assemblage from pharmaceutical giant Pfizer. The vacant lots sat idle for years after the Brooklyn-based developer took control of the site.
Environmental work at the site to remove lead-tainted soil a couple of years ago was complicated by a nearby subway tunnel. Another challenge came years earlier, when Churches United for Fair Housing sued to nullify the rezoning of the site, claiming the project discriminated against people of color. That lawsuit was dismissed.
— Holden Walter-Warner
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