Rabsky Group recently closed on $450 million in construction financing to complete 625 Fulton Street, a mixed-use high rise building in Downtown Brooklyn. Financing is provided by Madison Realty Capital and was negotiated by Galaxy Capital.
As revealed by Commercial Observer, financing will support the construction of a 35-story building with 1,098 apartments and lower level retail. These details, however, are significantly shy of renderings previously revealed by YIMBY for the development which illustrate a 941-foot-tall, 79-story building. The latter was expected to include a mix of offices, residential units, retail space, an elementary school, and a public plaza.
The latest update specifies the construction of 342 studios, 492 one-bedrooms, and 264 two-bedroom apartments, plus 26,000 square feet of retail space and a parking garage for up to 250 vehicles. Thirty percent of the units will be designated as affordable housing reserved for low-income households.
Skidmore Owings & Merrill was credited as architect of record in the original iteration of building renderings. Updated illustration, however, are attributed to Canadian design studio Fisher Rasmussen Whitefield Architects.