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Rabsky Group has filed permits with the New York City Department of Buildings for a considerable amount of retail where it plans to build a large development in the heart of Downtown Brooklyn.
Rabsky, in a joint venture with Spencer Equity, purchased 625 Fulton Ave. for $138M from Forest City Ratner in 2016, and followed that up with a $68M purchase of adjacent 633 Fulton Ave. in May, giving the partnership rights to develop a building up to 770K SF. Before the second purchase, the group had a 36-story office and retail tower planned, but they are reportedly considering going residential instead, The Real Deal reports.
Whichever way the Rabsky-led JV decides to go, the development will include 75K SF of retail on the ground floor and 72K SF on the lower level, enough space for nearly any form of retail.
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