Rabsky Group adds $20M from Bank Leumi for property in East Williamsburg

Rabsky Group through the entity Harrison Realty LLC as borrower signed a loan agreement with lender Bank Leumi Usa valued at $20 million for 4 parcels, including the tax class land zoned residential, except not Manhattan below 110th Street (V0) at 174 Harrison Avenue, 249 Wallabout Street, and 243 Wallabout Street in East Williamsburg. The deal closed on January 28, 2021 and was recorded on February 10, 2021.

This is an additional $20 million building loan added to an existing loan of $70.5 million. The last time the property sold was July 31, 2012 for $12,750,000.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

There has been one new building permit application Those plans include a total of 65 residential or hotel units.

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