Rabsky Group signs $45.8M refi with Customers Bank for rental in Williamsburg

The Rabsky Group through the entity North-Driggs Holdings, LLC as borrower signed a refi loan with lender Customers Bank valued at $45.8 million for the 113-unit rental (D1) at 205 North 9th Street in Williamsburg, Brooklyn.
The deal closed on December 31, 2021 and was recorded on January 3, 2022.
The property has 106,678 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $428 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Rabsky Group was Simon Dushinsky. The signatory for Customers Bank was Leo DiLoreto.
(310019878)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 211 residential units on October 31, 2012. (310019878) Plans for a 211-unit, 0 square-foot J-2 were filed on September 7, 2007 and were permitted on May 2, 2008.
The owners according to the Department of Housing Preservation and Development includes Simon Dushinsky, head officer and Yadler Rabinowitz, officer. The business entities are Goose Property Management Llc and North-Driggs Holdings Llc.
Within a 400-foot radius of 205 North 9th Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, one was in new building development. It was a new building permit issued on May 7, 2020 for a 64,529-square-foot R-2 building with 31 residential units at 215 North 10th Street.
Of those eight items, seven were loans above $5 million totaling $273.7 million. The most recent of the seven was Cheskel Wieder which borrowed $34.2 million from Greystone & Co. secured by two condo units in the 11,811-square-foot, 55-unit mixed-use building (RM) on 475 Driggs Avenue on November 9, 2021.

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