Developers Buy Schlitz Brewery in Bushwick for $33.7 Million, Plan Offices and Retail

A group of developers yesterday paid $33,700,000 for the former Schlitz Brewery at 95 Evergreen Avenue in Bushwick. The Commercial Observer first reported the sale of the five-story, 170,000-square-foot brick factory between Melrose and George Streets, across the street from the gigantic Rheingold Brewery redevelopment project.

It was the first sale of the property in more than 30 years. In the past year or so, developers have pounced on property in Bushwick, which is teeming with construction. Somewhat surprisingly, buyers Hornig Capital Partners, Savanna and Chelsea Village Associates have no plans to turn the industrial property into apartments, according to an agent with Berko & Associates, which brokered the deal.

The building is already being used for light manufacturing and distribution by a variety of tenants. The buyers plan to empty it and convert it to “creative loft office space” and retail with a $20,000,000 renovation. The top floor, which has 35-foot ceilings and large windows that let in a lot of light, may become an entertainment venue, said the story.

Schlitz built the factory in 1950 to house its New York canning and bottling operation, but the Milwaukee-based brewer had moved out of the building by the late ’70s. The last owner, Moshe Gotteman, bought it in the early ’80s and has been renting it out ever since. Above, a rendering showing how the factory could be adapted for office and retail space.

Hornig, Savanna Buy Original Schlitz Brewery for $33.7 Million [NYO] GMAP
Rendering by Fogarty Finger Architecture PLLC via NYO