Yoel Goldman pays $72M for latest Rheingold Brewery parcel
Investor has poured $140M into Bushwick resi assemblage on 6-acre site
Yoel Goldman [TRDataCustom] continues to piece together a planned residential development at the former Rheingold Brewery site in Bushwick, paying $72.2 million to Joseph Tabak’s Princeton Holdings and Robert Wolf’s Read Property Group for another parcel at the location.
The deal for 28 Stanwix Street means Goldman has invested more than $140 million in the 6.4-acre Rheingold Brewery site, with the multifamily landlord and developer raising $66 million on the Israeli bond market in February to help fund the project, as The Real Deal reported.
All Year, Princeton Holdings and Read Property Group could not be reached for comment.
The site — bound by Evergreen Avenue and Melrose, Stanwix and Noll streets in Bushwick — is currently slated to house a new 385-unit residential building spanning nearly 375,000 square feet, according to plans filed by Read Property Group in 2014.
Developer Simon Dushinsky’s Rabsky Group also has ambitious plans at the Rheingold Brewery site, which include a 400,000-square-foot residential project at 10 Montieth Street that would hold nearly 400 units. Dushinsky has faced criticism from city officials regarding that building’s affordable housing component.