Affinius Capital Refis Sky Equity’s Brooklyn Multifamily Project With $340M Loan

“Spread love, it’s the Brooklyn way,” The Notorious B.I.G. once advised, and one developer is experiencing plenty of Brooklyn love. 

Sky Equity Group just landed a $340 million refinancing for its mixed-use project at 313 Bond Street in Brooklyn’s Gowanus neighborhood, Commercial Observer can first report. 

Affinius Capital provided the loan — which will be used to complete the 567,000-square-foot property’s construction, and for lease-up — while Galaxy Capital’s Henry Bodek negotiated the financing.

The luxury development, between Union and President streets, consists of two multifamily buildings plus 51,600 square feet of retail. It sits in a prime position by the Gowanus Canal, close to the Carroll Street and Union Street subway stations and a 10-minute walk from Whole Foods.

“313 Bond represents a defining development in Gowanus, setting a new standard through best-in-class design, amenities and location,” Affinius Capital Senior Vice President Perry Katz said in a statement. “We’re grateful to have closed this deal with Sky Equity Group and look forward to collaborating on many more projects ahead.”

Sky Equity is an affiliate of Simon Dushinsky’s Rabsky Group and Dushinsky is a principal of both companies. In May 2024  Rabsky secured a $286 million construction loan from G4 Capital for the 603-unit project, The Real Deal reported at the time. 

Dushinsky acquired the development site from Yael Goldman in August 2019, paying $95 million, receiving a pre-development loan from G4 in 2022. The development got underway on the heels of the city’s November 2021 Gowanus rezoning, which aimed to facilitate development of the industrial neighborhood into a residential community with 5,300 new apartments as well as a focus on canal clean-up, new job opportunities and the development of new schools.

The luxury rental property at 313 Bond Street includes 149 studios, 313 one-bedrooms and 141 two-bedrooms. The majority of the residences have their own balcony, with views over the canal, Downtown Brooklyn, the Manhattan skyline and the Hudson River. Amenities include fitness centers, a library, co-working spaces and a game lounge, and residents have access to a wrap-around podium terrace. 

Last August, Affinius also provided a $98 million loan for Rabsky partner Goose Property Management’s rental project in Long Island City, Queens, TRD reported. 

Sky Equity could not immediately be reached for comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com.