Rabsky Group obtained financing of $204M from Berkadia Commercial Mortgage

Rabsky Group through the entity The Rabsky Group LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $204.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 500 residential units at 501 Bushwick Avenue in Bushwick. The deal closed on August 16, 2019 and was recorded on August 20, 2019.
The property contains a total of 321,129 square feet of built space.
The average loan per unit is $408,820.
The last time the property sold was September 29, 2014.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 500 residential (or hotel) units on September 19, 2018.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.