Brooklyn Development Reaches Leasing Milestone

The Rheingold, the largest multifamily development in Bushwick, is 60 percent leased after four months. The property features 500 units and was designed by ODA Architects.

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