The New Coney Island - Brooklyn's Times Square by the Sea

Friday, July 25, 2014

Get ready for the next Oceana in Sheepshead Bay!

Muss is in again!

Commercial Observer excerpt -

A joint venture between Muss Development and AvalonBay Communities is planning a residential development on a recently acquired site in Sheepshead Bay, Brooklyn, Commercial Observer has learned.

The partners are planning a split condominium and rental building on the vacant 83,000-square-foot site at 1501 Voorhies Avenue, Jason Muss of Muss Development confirmed.

The partnership closed on the acquisition of the site in April for $16.2 million, according to public records. The site at 1501 Voorhies Avenue allows for approximately 250,000 square feet of development, according to a source familiar with the transaction.

In a separate deal, Muss acquired an adjacent retail property at 1600 Sheepshead Bay Road for $4 million. The building is anchored by a 4,500-square-foot Citibank branch and boasts an additional 4,000 square feet of retail space and 9,000 square feet of commercial space, Mr. Muss told Commercial Observer in an email.

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