Simon Dushinsky Taps Douglas Elliman for Sales at UES Condo

A few things have changed at the condo development on the corner of East 72nd and Second Avenue.

For starters, its original developer, the Chetrit Group, is no longer involved. Its other equity partner, Simon Dushinsky, has broken away from the development firm he co-founded with Isaac Rabinowitz, Rabsky Group, to run Sky Equity Group, which is now the sole developer at 260 East 72nd.

Everything else about the project appears to be proceeding as planned. After topping out in June, the 60-unit condo building is launching sales in the coming weeks with Douglas Elliman Development Marketing, which tapped Maya Kadouri as sales director. Kadouri will be joined by Barbara Russo and Gezelle Javaheri on the sales team.

That Chetrit Group is no longer developing the project should not come as much of a surprise after co-founder Meyer Chetrit testified that the firm’s portfolio was valued at negative $80 million, just four years after being valued at $1 billion. The deposition, held in the spring but made public in August, came during a lawsuit filed by Mack Real Estate Group against the Chetrit brothers alleging a default at the Hotel Carter, at 250 West 43rd Street.

Chetrit spent years piecing together the parcels for the development on the Second Avenue corner, which included buying a $47 million lot from SL Green in 2015. In November 2024, G4 Capital Partners provided a $235 million construction loan to the Chetrit Group.

Dushinsky’s Sky Equity Group came on to the project around the same time, The Real Deal reported. In August of this year, TRD reported that Dushinsky and Rabinowitz would no longer pursue new projects together through the Rabsky Group.

Under Dushinsky and Rabinowitz, Rabsky became a massive Brooklyn developer, consistently ranking as one of the most active in the city with massive projects like a 1,100-unit, eight-building development at the former Pfizer site in South Williamsburg’s Broadway Triangle and another 1,100-unit multifamily building in Downtown Brooklyn at 625 Fulton.

The project at 200 East 72nd marks the first Manhattan condo project to launch sales with Dushinsky as a developer, regardless of development firm.

The Upper East Side is one of the most undersupplied neighborhoods in the city, with just 177 new development units on the market, according to data from Corcoran Sunshine Marketing Group. Recent launches, like Legion Investment Group and Nahla Capital’s 1122 Madison Avenue have sold quickly.

Pricing on a handful of units has been released in an offering plan accepted by the New York Attorney General’s office this month, with prices ranging from $3.6 million for a two-bedroom, 1,600-square-foot unit to $14.8 million for a five-bedroom, 4,000-square-foot unit.

Amenities at the project will include all the standard high-end trappings, including a fitness center, sauna, steam room and indoor pool, as well as two lounges, a bar, a private dining room and a porte-cochere.

Kadouri brings experience selling new developments in the area, including at 200 East 62nd Street and Manhattan House at 200 East 66th Street.

Although it’s Dushinsky’s first Manhattan project, it’s not the first time he’s tapped Douglas Elliman for sales. The developer, along with Dependable Equities, launched sales with an Elliman team at his 775-unit condo project in Fort Lauderdale.