Investing in New York City
A Greener Bushwick
Simon Dushinsky, who operates the real estate investment firm Rabsky Group, in the major real estate project located in Bushwick, a property that was once home to Rheingold Beer’s brewing operations. Dushinsky has ambitious plans for the Rheingold Brewery site: a rental building containing nearly 400 units and spanning almost 400,000 square feet.
Designed by theODA New York, the new building pushes the envelope in terms of amenities and outdoor space, according to renderings provided from. ODA New York’s seven-story, 392-unit building will at Montieth Street. Staying true to ODA New York form, the firm has created an idiosyncratic boxy style seven-story building with balconies that protrude and recess along the street wall and inner courtyard. Dushinsky’s project will feature a 25,000 square foot landscaped rooftop that circumnavigates vertically across the structures four upper floors and features a running/hiking course, urban farming areas and an outdoor cross-training facility. Along with the outlandish rooftop, ODA has included a 19,000-square-foot courtyard, a climbing wall, media room, and coworking spaces, typical for a luxury apartment building in Bushwick.
This new building will set a new standard for rentals in the area, according to ODA. Founder Eran Chen stated, “The present wave of urban renewal in Bushwick gives us not only the opportunity but the responsibility to adjust . We aim to discover new territories that will attract the growing demands of a young demographic, creating a strong sense of community and providing the kind of housing forms we all dream of.”
The 80/20 inclusionary-housing project will include 123 studios, 228 one-bedrooms, and 41 two-bedrooms, half of which will have private outdoor spaces. Other projects in – most notably the Mayer Schwart’s Castle Braid building – contain open rooftops to attract luxury-seeking renters. Dave Beegun of Citi Habitats stated, “There is nothing like that in Bushwick, or even in New York really. It should be a huge selling point. This [ODA’s building] would definitely be a first of its kind in that area.”