Much of the Broadway Triangle in Williamsburg is frozen by a legal battle over discriminatory zoning, but developer Rabsky Group is pushing forward with their plan to develop two industrial properties in the area into seven large residential towers.
Back in November of 2015, renderings were revealed of the planned 15-story, 99-unit mixed-use building planned at 42-20 27th Street, in the Queens Plaza section of Long Island City. Now, excavation is ongoing at the site, The Court Square Blog reports. It was previously reported the project would rise 18 stories and contain 195 rental apartments, but filings were never updated to reflect those figures; they still detail a 15-story, 99-unit project. The structure will encompass 141,077 square feet, of which 20,304 square feet will be designated for ground-floor retail. The residential units should average 1,160 square feet apiece, indicative of condominiums. Amenities listed in the Schedule A include a 573-square-foot bicycle storage room, private residential storage, and an inner courtyard. Rabsky Group is the developer, with ODA New York behind the design. Completion is expected in spring 2018, per on-site signage.
The Rabsky Group is purchasing the single-story, 92,221 square-foot warehouse at 101 Varick Avenue, in East Williamsburg, for $48 million, with prospects to redevelop the 141,863 square-foot property into commercial space. A new office building could measure 280,000 square feet, and would include multiple tenants and ground-floor retail space, according to The Real Deal. The existing warehouse is currently being leased as warehouse, storage, and office space. The deal is expected to close in February.
In February of this year, YIMBY reported on applications for a 15-story, 99-unit mixed-use building at 41-20 27th Street, in Long Island City, but now the developer, Rabsky Group, is planning to build an 18-story, 195-unit residential building, with a small 2,888 square-foot retail component on the ground floor. The Real Deal has renderings of the project, which is being designed by ODA Architecture. The building will measure 140,130 square feet, and its rental units will average 704 square feet apiece. Existing low-slung commercial buildings must first be demolished, and completion is expected in mid 2017.
Over a year ago, Forest City Ratner placed their Downtown Brooklyn development site, at 625 Fulton Street, on the market, and now Rabsky Group has agreed to purchase the property for $158 million, according to Commercial Observer. The site contains 600,000 square feet of development rights, and a residential tower is most likely, although plans for the site remain undisclosed. Until last year, the site was home to a seven-story, 359,000 square-foot office building.
