Rabsky Group Secures $70M Loan From Madison Realty Capital For 625 Fulton Street Multifamily
625 Fulton Street
$70,000,000
$63,752/SF
Building Size
1,098 SF
Asset Type
MultiFamily
Closing
Apr 15, 2025
AI
The property asset involved in this transaction is a multifamily tower located at 625 Fulton Street in Brooklyn, encompassing 1,098 square feet. The total financing amount for this asset totals $555,000,000, which includes an original loan of $485,000,000 alongside an additional $70,000,000 secured by Rabsky Group from Madison Realty Capital.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $555,000,000
- Address: 625 Fulton Street
- Market: Brooklyn
- Lender: Josh Zegen - Madison Realty Capital
- Landlord: Simon Dushinsky & Isaac Rabinowitz - Rabsky Group
- Broker: Henry Bodek - Galaxy Capital
The deal involves prominent figures in the real estate industry, with Josh Zegen representing Madison Realty Capital as the lender. Simon Dushinsky and Isaac Rabinowitz are the landlords involved, both associated with the Rabsky Group, while Henry Bodek from Galaxy Capital acts as the broker facilitating the transaction.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93