Simon Dushinsky and Isaac Rabinowitz are going their separate methods. At the very least on the subject of new tasks.
The press-shy co-founders of the powerhouse New York Metropolis developer Rabsky Group are not pursuing new growth alternatives collectively, in line with a supply conversant in the matter. The previous duo is specializing in their particular person portfolios and ventures, the supply mentioned.
Rabsky will live on and Dushinsky and Rabinowitz will nonetheless work collectively to personal and function Rabsky’s current portfolio of $4 billion in belongings, the supply mentioned.
Dushinsky is specializing in his solo enterprise, Sky Fairness Group, which focuses on luxurious rental and multifamily developments in New York Metropolis and South Florida. Rabinowitz’s new firm just isn’t identified. Rabinowitz’s son-in-law Yitzchok Katz runs Goose Property Administration, a agency affiliated with Rabsky that has change into a serious participant in Brooklyn by itself.
When Sky Fairness first launched, it was unclear if it was an offshoot of Rabsky. Now, it’s change into clear that the 2 are going their separate methods with new tasks.
Rabsky was based within the early Nineteen Nineties by Dushinsky and Rabinowitz, each Hasidic immigrants from Israel. The identify “Rabsky” is a portmanteau mixing their final names. The 2 began constructing properties within the U.S. in Kiryas Joel, New York, earlier than developing residential properties in South Williamsburg after which creating megaprojects within the fast-gentrifying North Williamsburg and Brooklyn.
Sources mentioned Rabinowitz centered extra on design whereas Dushinsky dealt with day-to-day operations.
“We’re two companions, we do every part collectively,” Rabinowitz mentioned in a deposition in 2012. “Twenty occasions a day we’ve conferences collectively.”
A few of Rabsky’s notable tasks embrace the Rheingold, a 500-unit rental at 10 Montieth Road in Bushwick, a 1,100-unit, eight-building undertaking on the former Pfizer web site in South Williamsburg’s Broadway Triangle, and 625 Fulton Street, an 1,100-unit multifamily constructing in Downtown Brooklyn.
The agency is constantly ranked in The Actual Deal’s annual rankings as one of many metropolis’s most lively builders.
A couple of years in the past, rumors unfold that Rabinowitz and Dushinsky had been splitting up, however a Rabsky consultant denied the fracture in a 2024 interview with TRD.
“I can’t converse to rumors, however I don’t see it,” mentioned the Rabsky consultant named Hersh on the time. “I’m seeing them working daily collectively, sitting collectively, going to job websites collectively, taking a look at offers collectively. I’m seeing the identical relationship that I noticed.”
Dushinsky is the better-known of the pair, with sources mentioning his direct communication model and a focus to element on all components of the event course of.
“There’s no bullshit,” a supply instructed TRD in 2024. “He’ll say, that is what you will do. And in two weeks I need to have a shovel within the floor.”
In 2024, Dushinsky pivoted to markets exterior of Brooklyn. These tasks had been a part of Sky Fairness. In Manhattan, the agency is developing 65 Franklin Street, a luxurious rental growth in Tribeca, and just lately topped out at 260 East 72nd Street — a 20-story rental tower. In Brooklyn, Sky Fairness accomplished The Westmark, a 425-unit rental complicated in Gowanus.
In South Florida, Dushinsky’s agency is constructing The Ombelle Fort Lauderdale, a two-tower luxurious rental undertaking.
Sky Fairness has a growth pipeline of almost 7 million sq. ft.
Sky Fairness declined to remark. Rabinowitz didn’t return a request for remark.
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