Rabsky nabs huge loan for Gowanus project 

Simon Dushinsky’s firm gets $286M from G4 Capital for 313 Bond Street

Rabsky Secures $286M Construction Loan for Gowanus Project
G4 Capital's Robyn Sorid with 313 Bond Street (G4 Capital Partners, Getty)

Rabsky Group scored a sizable loan for its hulking Gowanus project.

The Brooklyn-based developer inked a $286 million construction loan for its 604-unit multifamily building at 313 Bond Street from G4 Capital, according to a source familiar with the deal.

Rabsky, led by Simon Dushinsky, will use the loan to build its 567,000-square-foot rental complex next to the Gowanus Canal. Dushinsky is one of many developers who have capitalized on a 2021 rezoning in the formerly downtrodden, industrial neighborhood to build apartments.

Henry Bodek of Galaxy Capital arranged the financing.

Sign Up for the undefined Newsletter

G4 Capital had provided a $92 million pre-development loan for the project in 2022.

Rabsky bought the site from Yoel Goldman’s All Year Holdings for $95 million in 2019. Goldman had acquired the site a year earlier for $61 million. All Year has since filed for bankruptcy and sold off most of its assets.

Rabsky has become one of the largest developers in Brooklyn. He recently bought the Nassau Brewing redevelopment at 945 Bergen Street in a bankruptcy auction. The firm is also branching out to other states. It is seeking to build a 1,100-unit residential development in Fort Lauderdale.

Though the Gowanus rezoning is ahead of projections in its promise to deliver 8,500 homes, a number of projects were in jeopardy because of a June 2026 completion deadline to qualify for the 421a tax break. But the state extended the deadline last month to 2031.

Read more

(top) The VOREA Group's Peter Papamichael, Domain Companies' Matt Schwartz, RFR Realty's Aby Rosen, Eduard Slinin; (bottom) Slate Property Group's Martin Nussbaum & David Schwartz, Dolly Williams (Getty, The VOREA Group, Linkedin, Domain Companies, RFR Realty, Eduard Slinin, Slate Property Group, Dolly Williams)
New York
Gowanus poised to smash city’s housing goals — years early
313-331 Bond Street in Gowanus (Credit: Google Maps and iStock)
New York
Yoel Goldman sells majority stake in Gowanus dev site to Rabsky for $80M
New York
Rabsky Group buying Gowanus parcel from Yoel Goldman for $95M: sources
Recommended For You