Madison Realty Capital Closes $555M Loan for Brooklyn Resi Tower
Commercial Observer reported The Rabsky Group has secured an additional $70 million in financing from Madison Realty Capital, bringing the total loan to $555 million for its 39-story multifamily tower at 625 Fulton Street in Downtown Brooklyn. The 1,102-unit apartment building, scheduled for completion this year, will offer studios, one-bedroom, and two-bedroom units, with 30% designated as affordable housing. The property will include 54,000 square feet of retail space anchored by Aldi, 300 parking spaces, and extensive amenities such as a fitness center, pet spa, media room, golf simulator, and bowling alley. “With its proximity to major employers and top education centers, Downtown Brooklyn is experiencing an influx of businesses and residents, cementing its status as one of New York’s fastest-growing residential markets,” Josh Zegen, managing principal and co-founder of Madison Realty Capital, said in a statement.
