Rabsky Group received a $200 million refinancing package from Berkadia Commercial Mortgage. Berkadia Commercial Mortgage provided financing for the residential developer’s Rheingold Brewery site in Bushwick. In 2014, Simon Duhinsky, owner of the Rabsky Group, paid $53 million to purchase the Rheingold Brewery site.
In the package is a $62.4million mortgage, according to property records filed with the city on Tuesday. The building, completed in 2018, has rent ranging from $2400 for an Alcove Studio to $3850 for a Penthouse. Its estimated market price tag is $56.9 million, more than double the previous year’s estimate of $23.2 million.
The Rheingold is a 500-unit residential complex. It sits in the crosshairs of Bushwick Ave. and Stanwix St. on 10 Montieth St.
