Brooklyn Development Reaches Leasing Milestone

The Rheingold, an eight-story multifamily building in Brooklyn‘s neighborhood of Bushwick, has reached a 60 percent leased milestone. The 500-unit property, owned by the Rabsky Group, was designed by ODA Architects and was built on the former-site of Rheingold Brewery. Leasing began back in November 2018 and is handled by Fiddler Realty. Landscaping was provided by Gunn Landscape Architecture. 

“To achieve 60 percent leased in just a few months is incredible, especially during the winter market. That translates to just over 200 apartments rented in a new building introducing a new concept for the neighborhood,” David Korn, owner of Fiddler Realty, told Multi-Housing News. “It shows that there is a market in Bushwick for large-scale, carefully designed buildings that offer much more value than surrounding neighborhoods like Williamsburg, Greenpoint, LIC and Manhattan. We have a number of residents that work in Lower Manhattan who love paying a fraction of the rents they would in the city—and they’re getting much more than just a gym and common room.”

Community amenities 

Located at 10 Montieth St., the community offers studio, one- and two-bedroom units ranging from 400 to 1,366 square feet. The asset encompasses a full city block, featuring floor-to-ceiling windows, murals and street art from the neighborhood and surrounding outdoor spaces, all framed in patterns of yellow, red and orange blocks. Rents range from $2,500 to $3,750. Interiors were designed by Durukan Design and include open layouts; chef’s kitchens with custom lacquer cabinetry, mosaic tile backsplashes, Caesarstone countertops, chrome fixtures and stainless steel appliances; marble-tiled walled bathrooms with porcelain floors and oversized custom sinks; 5-inch wide white oak flooring; built-in sound system; floor-to-ceiling glass windows, touch screen to communicated with the 24-hour doorman and HVAC temperature control. Residents have access to amenities including:

• bi-level gym 
• Rockwerx rock climbing wall
• Courttech squash court
• yoga and fitness studio
• locker rooms
• spa
• concierge services
• soundproof music room
• painting studio
• photography studio
• business center
• meeting rooms
• dry cleaning and tailoring services
• laundry room
• library 
• in-lobby cafe
• game room
• screening room 
• children’s playroom
• private dog run
• pet spa
• parking, bike and unit storage
• 70,000 square feet of outdoor space
• landscaped rooftop
• 100-foot steel sky bridge
• 17,000 square feet of retail space

“In today’s larger buildings, little thought is given to how residents can come together as a community. At The Rheingold, we focused on creating dynamic experiences and interpersonal discovery by designing a roofscape that provides flexible routes that allow for deeper, more spontaneous connections free of spatial closure,” said Eran Chen, founding principal of ODA, in a prepared statement.

Images courtesy of Fiddler Realty