Acres Of Bushwick Property Sold For $11.25 Million
Image via Brownstoner
Ever since last summer’s rezoning, Bushwickers have just been waiting for the hammer to drop on the development of the neighborhood’s many industrial sites and it looks like that day has finally come: Last week, a section of 6.4 acres of prime Bushwick real estate sold for a cool $11.25 million.
The lucky buyer, according to Brownstoner, is RP Acquisitions LLC, which now owns 12.5 percent of nearly 50 commercial properties, including the former site of Bushwick’s famed Rheingold Brewery. As you can see above, the parcel covers several buildings along Flushing Avenue between Evergreen Avenue and Beaver Street and runs as far down as Melrose Street. In all, the properties amount to roughly 278,000 square feet of space.
And, of course, RP Acquisitions and co-developer Read Property already have plans for their new property: 10 mixed-use buildings will go up, featuring 977 apartments—30 percent affordable. Building permits have not been filed yet.
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