Rabsky Group borrows $50M from Goldman Sachs Bank for development in Fulton Ferry

Rabsky Group through the entity 69 Adams LLC as borrower signed a loan agreement with lender Goldman Sachs Bank USA valued at $50.0 million for a development site at 69 Adams Street in Fulton Ferry. The deal closed on November 19, 2019 and was recorded on November 26, 2019. This loan refinances a $47.4 million acquisition loan Bofi Federal Bank (now Axos Bank) made in November 2016.

The last time the property sold was November 29, 2016, for $65,000,000.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link