Rybak Lands $48M Loan for Coney Island Project

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) and just over 27,000 square feet of ground-floor commercial space.

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