If Long Island City, N.Y. needed Amazon, you wouldn’t know it from continued robust development, sales and leasing momentum just across the East River from Midtown Manhattan. For many years New York City’s best-kept secret, Long Island City today is among the most coveted of New York City neighborhoods, offering both a small-enclave ambiance and … Read more
UPDATED, Jan. 17, 12:00 p.m.: New York City investment sales within the $20 million to $30 million range included the Greater Jamaica Development Corporation selling its 168th Street parking lot and Rybak Development acquiring four Yorkville walk-ups, according to Department of Finance filings made public last week. 1.) BRP Companies picked up a lot that will … Read more
Long Island City was home to the largest outer borough loan last month for the third time in a row. The Durst Organization landed a $360 million loan for its Queens Plaza Park project at 29-37 41st Avenue to grab the top spot for December. First place in November went to a $275 million loan … Read more
Sergey Rybak’s Rybak Development landed a $47.5 million construction loan from Bank Leumi to finance his planned 22-story, 180,000-square-foot mixed-use tower in Coney Island. Rybak bought the site at 271 Sea Breeze Avenue last June for $13.5 million from Chaim Miller. The planned tower will include 114 apartments (30 percent will be designated as stabilized) … Read more
Rybak Development picked up a pair of East Village buildings for $12.3 million. The properties, at 24 1st Avenue and 99 East 2nd Street, contain a total of two apartments and three commercial units. The two contiguous buildings previously housed drag venue Lucky Cheng’s, which closed down after its owner, Hayne Suthon, died of cancer … Read more
The condos are coming to Sheepshead Bay. And some have catchy names like the Ocean, the Vue and 1 Brooklyn Bay. The sponsors behind those projects — including the local firm Rybak Development and a joint venture between Muss Development and AvalonBay Communities — are among several established builders looking to make a splash there. Read full article here
Condominium development in Brooklyn slowed to a more modest pace in 2017, according to a ranking of offering plans accepted by the New York state Attorney General’s office this year. Of the 10 biggest projects ranked by targeted sellout on acceptance, just one development was aiming for a price point above $100 million, compared to … Read more
