Yoel Goldman Continues To Grow Rheingold Assemblage Footprint
Investor Yoel Goldman continues to add to his holdings near the site of the former Rheingold Brewery in Bushwick, after paying $72M to Princeton Holdings and Read Property Group for another parcel at the site.
Yoel’s All Year Management closed on 28 Stanwix St on April 5, bringing the total price tag of his Rheingold assemblage to about $140M, The Real Deal reports.
All Year bought the adjacent 123 Melrose St for $68.5M from Read and Princeton last fall.
The current plan is for 10 buildings to rise on the site.
Read filed plans with the city for a 385-unit, 375k SF residential building there, and the Rabsky Group also filed plans for a 400k SF, 400-unit residential building.
If the amount of office space coming online just a stone’s throw from the brewery site is any indication, the developers shouldn’t have much trouble filling those units once they’re built. [TRD]