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

Friday, October 10, 2014

24 story tower coming to Cropsey Avenue across from Caesars Bay Shopping Center

NY Yimby excerpt -

Yesterday, YIMBY brought you news of a new building permit filing for a site in Sheepshead Bay, destined for a 30-story tower catering to the neighborhood’s burgeoning Russian population.

Now, one neighborhood over, southern Brooklyn’s other major growing immigrant group – the Chinese – are getting a tower of their own. Yesterday, a new building permit was filed for a 24-story tower at 2300 Cropsey Avenue, between Cropsey and the Belt Parkway in the Bath Beach section of Brooklyn, sometimes thought of as a part of Bensonhurst.

At 273 feet and 24 stories, the Michael Kang-designed tower will be by far the tallest new building catering towards Chinese buyers in the outer boroughs, nearly twice as tall as the medical center and hotel building that Richard Xia is developing in Flushing. It also marks the ascendency of the Chinese as the dominant ethnic force in real estate across southern Brooklyn, certainly with the largest expanse of land.

The nearly 350,000-square foot building at 2300 Cropsey will contain 170 apartments – we’re guessing condos – divided over 200,000 square of net residential space, for a roomy but modest unit size of almost 1,200 square feet. There will be 60,000 square feet of community facility space, likely marketed towards doctors, with 337 garage parking spaces and a surface lot that will hold 32 stalls.

The developer listed on the deed and building permit is Meng Hua Wang at Flushing-based W&L Group Construction, but YIMBY has also heard that Richard Lam of Success Team Realty is involved. The parcel traded for $19 million in January. The site is currently a gutted six-story building that was last used as a nursing home.

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