Read Property Group, developer of the massive Bushwick mega-project Rheingold Brewery — it encompasses at least 10 city blocks — has sold part of the site to another developer, named Joel Goldman. The sale has not yet hit public records, but Read told local Council Member Antonio Reynoso and community development watchdog group Rheingold Construction Committee about the sale, City Limits reported.
It’s business as usual for developers to resell or flip development sites. But Reynoso and community organizers are worried Goldman and another developer, Rabsky — which also bought part of the site last year, for $53,000,000 — won’t honor the promises Read made to build affordable housing on the site in exchange for a 2013 rezoning. (more…)