Commercial Real Estate & Advisory

It’s Official: Rheingold Beer Is Back

April 1, 2005

Male office tenants at 130 W. 42nd St. may start dressing better soon, hoping to make a good impression on pretty young Dani Marco. They will be sharing elevator space with the svelte brunette Miss. Rheingold 2004 once The Rheingold Brewing Company moves into 2,800 sq ft of office space in the building. Porter Fulmer, director of Sinvin Realty Corp., represented the tenant in the transaction along with Roxanne Betesh, vice president of Sinvin. Nicholas B. Ghattas, president of American Properties, Inc. represented the building in the three-year lease. While terms are not being disclosed, the landlord had been asking $30 per sq ft.

The deal is for Rheingold’s first office space since the resurrection of the dead-and-buried beer brand name after 27 years. Until now the budget-conscious company has housed itself in temporary office space an home offices.

“This lease is a big step for the brewer, proving that its strategy for re-launching one of New York’s favorite beers is paying off,” said Sinvin’s Fulmer.