Sky Equity Group US, Rabsky Group file plans for 89-unit building in Tribeca

Moshe Neiman of Sky Equity Group US in a venture with Rabsky Group, submitted a new building construction project for a 89-unit, 171,684 square-foot residential (R-2) building at 65 Franklin Street also known as 358 Broadway, in Tribeca, Manhattan. The plan was filed with the New York City Department of Buildings on July 3, 2025 under job number M01243425. It calls for the construction of a 17-story building. The project is described in the filing as: proposed twenty (20) story mixed use building. The architect is Hamish Whitefield Architects P.C. The project is being developed on two tax lots, 5 and 7.

Rabsky Group’s Simon Dushinsky recently signed a $92.8 million loan secured by this development site, with G4 Capital Partners, after purchasing the site from HAP Investments.

Recent Rabsky Group stories on PincusCo:

• Rabsky Group signs $555M refi with Madison for 1,102 units in Fort Greene (May 02, 2025)

• Shloma, Herman Stuhl pays $7M for bulk rental condo in Williamsburg (April 16, 2025)

• Rabsky, Chetrit sign $165M construction loan with G4 for 58 units in Lenox Hill (March 20, 2025)

• Morris Meisels pays $7M to Rabsky Group for rental units in Williamsburg (February 19, 2025)

• Rabsky Group pays $57.6M to HAP Investments for dev site in Tribeca (February 13, 2025)

65 Franklin Street

The property

The parcel is 175 feet deep with a total lot size of 9,555 square feet. The lot is irregular. The zoning is C6-4A which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.3 million.

Prior sales and revenue

This property was sold for $12.7 million on April 2, 2012.

The 48,180-square-foot property generated revenue of $2.1 million or $43 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $2,740 in OATH penalties in the last year.

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $15 million money judgment concerning a construction filed on August 14, 2023, by Bonjour Capital and Charles Dayan against HAP Investments.

The block

On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 449,155 square feet of the 449,155 square feet. The largest owner is Bonjour Capital, followed by City Of New York and then Rabsky Group. On the tax block, there were two new building construction projects totaling 248,951 square feet. The largest is a 89-unit, 171,684 square-foot residential (R-2) building submitted by Moshe Neiman and filed by Moshe Neiman with plans filed July 3, 2025 and it has not been permitted yet. The second largest is a 41-unit, 77,267 square-foot residential (R-2) building submitted by HAP Investments and filed by Monzer Khafagy with plans filed July 25, 2018 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 358 Broadway, PincusCo identified 11 commercial real estate items of interests occurred over the past 24 months. Of those 11 items, six were sales above $5 million totaling $132.4 million. The most recent of the six was Peregrine 108 Leonard LLC which bought one condo unit in the 6,252-square-foot, 172-unit mixed-use building (RM) on 50 Lafayette Street for $21.4 million from Civic Center Community Group Broadway LLC on June 16, 2025. Of those 11 items, five were loans above $5 million totaling $409.3 million. The most recent of the five was Borah, Goldstein, Altschuler, Nahins & Goidel in which borrowed $6.5 million from Flagstar Bank secured by four condo units in the 6,504-square-foot, 17-unit office building (RB) on 377 Broadway on July 7, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.