Updated May 12, 2025
Simon Dushinsky Of Rabsky Group Secures $555M Refinance For Multifamily Towers In Fort Greene
12 Rockwell Place
$555,000,000
Units
1,102
Asset Type
MultiFamily
Closing
Apr 11, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 12 Rockwell Place in Fort Greene, Brooklyn. The property consists of two newly built residential towers that total 1,102 units. The landlords are the Rabsky Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $555,000,000
- Lender: Josh Zegen & Brian Shatz - Madison Realty Capital
- Landlord: Simon Dushinsky - Rabsky Group
- Loan Type: Refinance
This transaction involves key individuals from Madison Realty Capital, specifically Josh Zegen and Brian Shatz, who facilitated the refinance of the property. The refinancing included $430 million, which was recorded and later assigned to a PIMCO fund.
On the Map
$555,000,000
MultiFamily
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Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93