Interesting that the owner of the Trump Village Shopping Center bought an adjacent property last year -
Real Deal 2/7/13 -
Real estate investor Ruby Schron has forked out $25 million to buy a
49,000-square-foot building at 532 Neptune Avenue near Coney Island,
according to public records filed with the city today. But the
notoriously low-key real estate mogul isn’t just looking to be closer to
Schron plans on tearing down a fence on the edge of the property and
combining his latest acquisition with the adjacent Trump Village
Shopping Center, which he has owned since the early 2000s, he told The Real Deal
via a spokesperson. The three-story building he purchased has eight
commercial units. Retailer Walgreens occupies the ground floor.
Schron has been active in the area for a decade. An investment group
led by the businessman purchased a 6,000-unit apartment portfolio in the
neighborhood from the family of property magnate Donald Trump in 2003.
Trump’s father, Fred Trump, had reportedly acquired and developed the
portfolio over the course of six decades.
The seller of the Neptune Avenue property was Lake Success,
N.Y.-based Norse Realty Group. Norse principal Michael Levine was not
immediately available for comment.
The deal for the property closed January 24. It was not immediately clear if there were any brokers involved in the transaction.
As The Real Deal previously reported, Schron may be the next
New York City real estate mogul to crack Forbes’ list of the 400
richest Americans, thanks to a recent deal for the Woolworth Building at