Yoel Goldman’s All Year Management revealed its plans for its two-city-block-sized development site at the former Rheingold Brewery complex in Bushwick, and they’re big.
The firm will build a 1 million-square-foot, 800 to 900-unit rental complex on the block bounded by Stanwix and Melrose streets and Evergreen and Flushing avenues, to be called Bushwick II, The Real Deal has learned.
About 20 percent of units will be affordable.
The ODA New York-designed building will feature a complex system of interconnecting courtyards and common spaces, including coffee shops, art galleries, lounges and fitness areas, most of which will be available to the public, according to the architecture firm. The building’s 60,000-square-foot roof will house an urban farm, as well as additional recreation and exercise space. A nearly 18,000-square-foot park will run through the building’s center.
“By interrupting the rigid order of a typical NYC street grid and blending it with the sequencing of a European village,” ODA’s founder Eran Chen said in a statement, “the path becomes a meandering courtyard rather than a direct line from a to b.”
The Williamsburg-based All Year assembled the site in two separate purchases. It bought 123 Melrose Street from Princeton Holdings’ Joseph Tabak and Read Property Group’s Robert Wolf in November for $68.5 million. Then, in April, it picked up the adjacent 28 Stanwix Street from the same sellers, paying $72.2 million.
The site is just south of another site, 10 Montieth Street, owned by Simon Dushinsky’s Rabsky Group, that will also be home to a massive, ODA-designed rental building. That project is set to encompass 400,000-square-foot of space and contain about 400 units.