Meridian Capital’s New York Institutional Investment Sales Team Hired to Sell 1,000-Unit Bushwick Complex

Meridian Capital Group announced today that its Institutional Investment Sales Group, led by Helen Hwang, has been tapped to sell the fee simple interest in The Denizen, a 1,000-unit, two-building complex located in the Bushwick neighborhood of Brooklyn, NY. Completed in phases between 2018 and 2019, The Denizen is one of New York City’s most amenitized rental buildings offering over 100,000 square feet of amenity space.

Situated on the former Rheingold Brewery site, The Denizen spans two full city blocks and is comprised of a nine-story building at 54 Noll Street and an eight-story building at 123 Melrose Street. In addition to its unparalleled amenities, which include an indoor pool, bowling lounge, rooftop farm, and gym with a rock-climbing wall, boxing ring and spin studio, The Denizen offers tenants a strong value proposition with rents 20% below Brooklyn waterfront neighborhoods. Given its price point, multiple lounge spaces that are ideal for work from home, and its proximity to Midtown Manhattan, The Denizen is an asset that is best suited for a post-Covid recovery. 

Designed by renowned architect ODA and developed by All Year Management, The Denizen has won numerous awards for its design and architecture, including ULI’s Excellence in Market Rate Housing Development in 2019. Artfully designed to cater to the neighborhood’s young and creative population, which continues to move east in Brooklyn along the L-train, The Denizen features fifteen seven-story murals created by local artists, which open into the building’s multiple landscaped courtyards. The Denizen also includes 130,000 square feet of commercial space and a 450-space parking garage. The 80/20 building benefits from a 25-year 421a tax abatement.

Helen Hwang, Senior Executive Managing Director of Meridian’s Institutional Investment Sales group can be reached at (212) 468-5930 or hhwang@meridiancapital.com.