Slated to be the largest influx of housing created in Bushwick ever, ODA Architect’s two projects on the old Rheingold Brewery site continue to progress. Rabsky Group’s 10 Montieth Street, a nearly 400,000-square-foot, seven-story building with 392 units, just topped out. And All Year Management’s impressive development, totaling one million square feet, at 123 Melrose Street is currently being clad. Overall, the two projects will span three full city blocks.
All Year Management
We hear so frequently about the players behind Manhattan’s billion-dollar real estate projects and how foreign investors are pouring a global vault’s worth of currency into New York City property, often shielded by LLCs. It’s illuminating to get a closer look at the city’s larger real estate landscape–one that has changed so much in recent decades–and learn who’s behind the soaring property values, skyrocketing rents, frenzied flipping and veritable horse-trading that has driven the unprecedented and transformative gentrification beyond Manhattan’s rarified development scene.
A recent story by The Real Deal titled “Learning and earning: Hasidic Brooklyn’s real estate machers” reveals that a huge slice of the borough’s real estate pie is owned by the Hasidic community. The ultra-orthodox sect reportedly includes some of Brooklyn’s wealthiest property owners, to the tune of $2.5 billion.
In March of 2015, the cube-happy architects at ODA revealed their design for 10 Montieth Street, part of Bushwick‘s 10-block Bushwick’s Rheingold Brewery site. The 400,000-square-foot, 400-unit rental building from the Rabsky Group has a bow-tie shape with a sloping zig-zagging green roof and amenity-laden courtyard.
Last week, renderings were released for a second project from ODA at the Rheingold site, this one with developer All Year Management. Inspired by a “European Village” and dubbed Bushwick II, this rental one ups 10 Montieth; it will encompass one million square feet over two city blocks and have 800-900 units, as well as an entire system of interconnecting courtyards and common spaces that break from the street grid, an 18,000-square-foot central park, and a 60,000-square-foot rooftop with an urban farm and recreational spaces including a pool. Dezeen has uncovered additional renderings of Bushwick II that showcase these outdoor spaces, and they do not disappoint.