NEW YORK | 625 Fulton St | 500 FT | 35 FLOORS

[tdawg]

Looks stunning! The base at least.

[chris08876]

Yay the project is alive!

Glad that Rabsky is back in the game.

[NYguy]

One of the nicest so far for Brooklyn.

[Fardeb]

Looks like its somewhere in the 500-550 foot range in those renders. Thats two office towers potentially going up in Brooklyn soon.

[chris08876]

Its good to be patient. That's why for other projects, like Astoria Cove which right now is questionable, it's worth to wait. Land is worth to much, and the opportunity is to great for it not to be developed.

I agree. This is a nice office project. Stellar base btw. Kinda has a touch of Hudson Yards, but it works and it's not outlandish in its nature.


Credit: https://www.cityrealty.com/nyc/marke...o-liberis/7282

[NYguy]

https://therealdeal.com/2017/05/11/r...d-dobro-tower/

Rabsky pays $68M for site next to proposed DoBro tower
Developer's Fulton Street project grows to 770K sf as-of-right




By Mark Maurer
May 11, 2017

Rabsky Group is expanding its plans for a Downtown Brooklyn skyscraper as big as 770,000 square feet with the recent $68 million purchase of a neighboring property at 633 Fulton Street, sources told The Real Deal.

The Brooklyn development firm, led by Simon Dushinsky and Isaac Rabinowitz, closed Wednesday night on the three-story retail building, which has the addresses of 633-645 Fulton Street and 44-60 Rockwell Place. The purchase allows Rabsky to build a larger ground-up tower, which is expected to contain 150,000 square feet of retail and significant frontage along Fulton Street.

The seller of the 36,000-square-foot property, home to discount store Dollar Deals, is landlord Sam Jemal, sources said. The building is slated for demolition later this year, paving the way for construction to begin.

Prior to this acquisition, Rabsky was planning a 36-story, roughly 618,000-square-foot office tower on the site at 625 Fulton Street. But the firm is now considering either residential or office as the tower’s primary use, said Tucker Reed, whose new real estate consultancy Totem is a partner on the project. The combined parcels offer 770,000 square feet as-of-right.

“The zoning on the site allows for a lot of flexibility,” Reed said. “This additional piece was very important.”

The site is located just outside of the prime Fulton Street retail corridor, between Boerum Place and Flatbush Avenue Extension, where retail rents are the priciest in Brooklyn at an average $326 per square foot, according to a recent Real Estate Board of New York report.
Peter Wolf of Select Real Equity Advisors brokered the deal. Albo Liberis is serving as the architect of record, replacing Eran Chen’s ODA New York last year.

Representatives for Rabsky, Jemal and Wolf could not be reached.

Rabsky struck one of its largest deals to date in January 2016 when it bought the development site at 625 Fulton Street from Forest City Ratner for $158 million. Forest City considered building a residential tower but instead opted to sell.

The developer is also weighing the construction of a hotel on a site along Bedford Avenue in Williamsburg and building a 400,000-square-foot, 500-unit rental on part of the Rheingold Brewery site, for which it secured a $93 million construction loan in December.

[chris08876]

I could easily see this top 1100 units if they keep the sq ft per unit at 500-600 sq ft. Parcel is massive. Even subtracting the 150,000 sq ft for retail. I'm hoping the developer goes with the small space, but high unit count. Good opportunity for much needed supply in the area.

Although Nevins and Dekalb stations will be further strained, but thats why the Japanese invented subway pushers.





Can't wait for NY to see this.

[NYguy]

I could see a mixed-use development, similar to Ratners planned tower on tve Modells site.

[chris08876]

Rabsky files retail plans for DoBro development site:
Developer and partners can build Fulton Street tower as big as 770K sf

Rabsky Group filed plans to build about 75,000 square feet of ground-floor retail on the site of his $226 million Downtown Brooklyn assemblage, where he has enough development rights to build a 770,000-square-foot skyscraper.

The Brooklyn development firm, led by Simon Dushinsky and Isaac Rabinowitz, filed a permit application Wednesday with the city’s Department of Buildings that indicates he plans to develop 75,347 square feet of retail on the ground floor at 625 Fulton Street and another 72,676 square feet on the lower level.

A representative for Rabsky did not immediately respond to a request for comment.

Rabsky, which is partnering on the project with Joel Gluck’s Spencer Equity and former Downtown Brooklyn Partnership president Tucker Reed, purchased the lot at 625 Fulton Street in January 2016 from Forest City Ratner for $158 million.

Last month, the partners bought the adjacent lot at 633 Fulton Street for $68 million. Rabsky had earlier been planning a 36-story office tower with retail, but sources told The Real Deal that he is considering residential as the primary use.

========================
https://therealdeal.com/2017/06/14/r...elopment-site/

[NYguy]

Further filings for the entire building will follow...

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01


http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=02

[mrnyc]

hey now -- somebody put some thought into this office design, it's pretty groovy.

finally that annoying lot will go away. i'm glad the ratners sold it because otherwise nothing would have happened there until they gathered up the maximum possible government handouts. glacial speed & thee most minimum risk possible, that's how forest city rolls.

[NYguy]

https://www.google.com/amp/s/thereal...-to-dobro/amp/

Rabsky Development hopes to bring 942-foot-tall building to DoBro

KERRY BARGER
DEC 14, 2018

Downtown Brooklyn could be getting another megaproject.

Rabsky Development hopes to build a 942-foot-tall building with 902 apartments, 739,000 square feet of office space and a 640-seat public elementary school at 625 Fulton Street, according to Politico. The project would span 1.8 million square feet overall, and its public review process will start in January.

The project would be the densest development in Brooklyn if it is approved as-is. Rabsky framed it as an attempt to bring more office space to Downtown Brooklyn.

The firm is also working on the massive and controversial Broadway Triangle project in South Williamsburg, where they recently landed a $65 million loan.

Rabsky would not need a residential rezoning for the project given the allowed density on the site, so the project would not be subject to city regulations from 2016 that mandate affordable apartments in exchange for higher density. The firm still plans to include some affordable housing with the project but not as much as the policy would call for.

Local City Council member Laurie Cumbo told Politico she planned to push for a project of this scale to include a significant affordable component.

“You can’t allow a project of that magnitude and scale to be discussed without affordability being at the forefront of the table,” she said. “I’m looking for both residential and commercial [affordability].”

[toddguy]

Wow. 942 feet. And this is just down the street from that wonderful supertall under construction. Downtown Brooklyn alone will have a better skyline than just a handful of other American cities.

*Someone needs to show what 942 feet plus the Dekalb tower would look like rising up from Brooklyn.

[Hudson11]

The project would be the densest development in Brooklyn if it is approved as-is.

I'm pretty sure I just heard the NIMBYs scream all the way from here in the suburbs.

[toddguy]

Originally Posted by Hudson11

I'm pretty sure I just heard the NIMBYs scream all the way from here in the suburbs.

The thought of tormented NIMBY's screaming like lost souls brings a smile to my face. It is NYC and even though it is Brooklyn it is a tiny fraction what like less than 1 or 2 percent of the 70 or so square miles of land area of that borough that is highrise! They need to get over it.

[Crawford]

Originally Posted by Hudson11

I'm pretty sure I just heard the NIMBYs scream all the way from here in the suburbs.

And no public review is needed, so there's not a damn thing they can do. This tower is completely as-of-right.

This will be second tallest building in downtown BK, and given the bulk (1.7 million square ft.), will have huge skyline impact.

[NYguy]

...the project would not be subject to city regulations from 2016 that mandate affordable apartments in exchange for higher density. The firm still plans to include some affordable housing with the project but not as much as the policy would call for.

Local City Council member Laurie Cumbo told Politico she planned to push for a project of this scale to include a significant affordable component.

“You can’t allow a project of that magnitude and scale to be discussed without affordability being at the forefront of the table,” she said. “I’m looking for both residential and commercial [affordability].”

I'm so sick of these whiny politicians. They want to have say over everything both ways - as of right or not as of right. And if the legal as of right development doesn't suit them (in other words, if their "power" is diminished), they want to change the rules.

This tower will be within a couple of blocks of both 9 deKalb and 80 Flatbush, the other tallest towers coming to Brooklyn. It will make a nice cluster. Queens, it's your move.

[toddguy]

1066, 942 and 840 feet will make a good tall cluster. Again few US cities can match it.

[NYguy]

Originally Posted by toddguy

1066, 942 and 840 feet will make a good tall cluster. Again few US cities can match it.

Not to mention Extell's 700 footer, which is rising nicely, and could also be a part of that pack. For so many years, Brooklyn's tallest was a 500 footer. But now we're starting to check off all the right boxes.

[chris08876]

Not bad. Although I would of liked to see the 902 units bumped up to 1200-1500. Theoretically, if you don't include the office component, you could probally add 500-700 more units depending on the size and distribution of unit functionality (studio..1 BD..2BD..ect).

But nevertheless, fantastic news for DoBro.

The office component is nice, but I think more housing would be ideal. 902 units is a lot for any tower, but in NYC, more are needed, and would assist in adding some nice affordable housing.

While this is not 100% affordable, but with a mix of affordable/market rate, its still will add some units to the pipeline.