With approval expected for rezoning of the sites, Rabsky Group will be free to construct two buildings with a total of 622 market-rate units, 155 affordable units, and around 35,000 square feet of retail space.
The Wallabout Street sites were purchased by the developer in 2012 for $12.75 million from pharmaceutical giant Pfizer, which began selling off its Brooklyn properties in 2008 after shuttering its plant.
Rabsky Group is also one of the developers behind the forthcoming Rheingold Brewery redevelopment at 123 Melrose Avenue in Bushwick, a massive residential project on the former beer brewery site that will eventually house 1,000 apartment units. Construction on that project is expected to begin this summer.
The firm has nearly completed a six-story, 24-unit apartment building just down the block at 376-382 Wallabout Street.
Other Brooklyn developments the firm is working on include a seven-story building nearby on Flushing Avenue and Kent Avenue, an eight-story building in Crown Heights, and a five-story development in Clinton Hill, at the former White Castle site on Myrtle Avenue.
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