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

Saturday, January 31, 2015

Boardwalk reconstruction will be completed by Summer 2016

I wish it was sooner, but am happy they are doing something about fixing it for good. It's been in such poor condition for so many years now.

Brooklyn Daily Eagle excerpt -

“The new boardwalk will mirror the look and feel of a traditional boardwalk while adding critical strength and resilience – which will protect the Coney Island community and stand up to floods and hurricanes,” Ferguson wrote in the email.

Reconstruction of the 900,000 square foot Reigelmann Boardwalk began in November and is expected to be completed by the start of beach season in 2016. The boardwalk, which stretches for 2.7 miles from West 37th Street in Coney Island to Corbin Place in Brighton Beach, opened in 1923.

Parts of the massive reconstruction project have already been completed, including the Steeplechase Pier.

The 92-year-old boardwalk is being renovated with recycled plastic lumber boards laid over a concrete support structure. Recycled plastic lumber has a long life expectancy, is sustainable and reduces plastic entering landfills or New York City waterways, according to the Parks Department.

The entire project is adhering to the city’s policy of environmentally-friendly construction, Ferguson wrote.

“The city has a long-standing policy of reducing the use of tropical hardwoods. In fact, to reconstruct the entire boardwalk with tropical hardwoods would destroy thousands of acres of rainforest and contribute to the very climate change that destroyed the boardwalk in the first place,” Ferguson said.

Dailys News on Boston Beer Company coming to Coney

This is a $4 billion corporation. Very significant for Coney development!

Daily News excerpts -

Get ready for new brews by the barrel in America’s Playground.

The State Liquor Authority has given a division of Samuel Adam’s parent company the thumbs up to open Coney Island Brewing on Surf Ave., officials said.

The beer maker would take over the former home of a pizza shop next to the Brooklyn Cyclone’s home stadium and Peggy O’Neill’s Bar.

“The heart and soul of Coney Island Brewing Company is 100% inspired by the beach, the boardwalk and the people of Coney Island,” said Alan Newman of Coney Island Brewing.

“It took some time for us to find a location that worked for us, but it was worth the wait,” he added. “We couldn’t be more excited for this new adventure.”

The original Coney Island Brewing Company launched in 2007 and was bought by a division of the Boston Beer Company in 2013.

The new space at 1904 Surf Ave. will feature a full-scale brewery, a tasting room and a retail shop where customers can buy growlers of their favorite Coney brewskis, a spokeswoman said.

“It’ll be fantastic for Coney Island,” Peggy O’Neill’s co-owner James Quigley said. “We want more business out here.”

What's new for Coney in 2015?

NY1 excerpt -

So what are the new attractions this year? Eight new rides - three at Deno's Wonder Wheel Park, the rest at Luna Park. There are also new places to eat. Checkers is opening by the Stillwell Avenue train station, and a Wahlburgers is on the way. The celebrity brothers who founded the restaurant will even feature this new eatery on their show on A&E.  

"That'll actually be part of their reality show. They're working it into the story of the show," Zaki said. "So we're very excited about that." 

There's also excitement about Coney Island becoming a year-round destination. A new semi-pro football team debuted in the fall, and there was the first New Year's Eve celebration. 

"This is extraordinary for an area that has been known for being a seasonal destination," Bliss said.

Thursday, January 29, 2015

Brooklyn's Paramount Theatre is coming back!

Billboard excerpt -

Barclays Center affiliate Brooklyn Sports & Entertainment has formed an alliance with Long Island University, in which BS&E will bring entertainment back to the historic Brooklyn Paramount Theatre.

"This collaboration will bring the LIU Brooklyn Paramount Theatre back to life," says LIU president Kimberly R. Cline, "creating endless opportunities for LIU and our neighbors."

Adds Barclays Center CEO Brett Yormark, "We felt that this would be the next step in the evolution of our partnership with LIU, that we should work collaboratively and start bringing some great content there, not only for the student body, but also for the public."

The move will resurrect the 1,500-capacity venue, which opened in 1928, as an active entertainment venue for the first time in more than half a century, with the BS&E team focusing on booking emerging talent in a variety of areas, including music, comedy, and boxing. Barclays Center CEO Brett Yormark tells Billboard that the Paramount represents an opportunity in the growing BS&E portfolio, and will begin hosting shows as soon as this quarter.

The Paramount deal is the latest move by this increasingly aggressive group, led by Yormark, which opened the $1 billion, 19,000-capacity Barclays Center in September of 2012 as the home of the NBA's Brooklyn Nets. By the end of 2013, Barclays Center was the third highest-grossing arena in the world for concerts and events, reporting $83.5 million to Billboard Boxscore. Post-honeymoon period, Barclays Center has remained among the busiest arenas in the world, reporting $60 million in concerts and events for the same period this year. Bruce Ratner is majority owner of Barclays Center and executive chairman of Forest City Ratner Companies, one of the partners that won the bid to redevelop the Nassau Coliseum, a $250 million project that will begin when the NHL's Islanders leave Nassau for Brooklyn following the current hockey season.

"As we diversify into an entertainment company -- Barclays Center being the first step, we've got Nassau, and other announcements coming -- being in the venue space is important to us," Yormark tells Billboard, "as is identifying complimentary spaces. What's going on in Brooklyn is incredible, a downtown entertainment district with restaurants and smaller theaters."

The Brooklyn Paramount has a strong live music pedigree. Originally built as a movie palace, the venue was the site of renowned jazz shows of the 1930s and '40s, hosting such artists as Dizzy Gillespie, Duke Ellington, Frank Sinatra, and Ella Fitzgerald. Pioneering DJ Alan Freed, and later TV personality Clay Cole, staged a number of rock 'n roll shows there, including Buddy Holly, Chuck Berry, Bobby Vinton, Brenda Lee, and Jackie Wilson. LIU purchased the facility in 1960 for basketball, which it used until the school opened a new gym in 2005, leaving the Paramount mostly dark.

Across the street from Trump Shopping Center

Jewish Voice excerpt -

One of the merchants to be effected told The Daily News, “They’re trying not to hurt anybody.” “They’re offering people money to buy them out” of current leases.

The Royal Palms spa, approximately a block from the Neptune shopping center, has been promised by Cammeby representatives, to be the relocation site for the businesses that are pushed out of the strip mall.

A spokeswoman gave confirmation of the company’s plans to set up the once bathhouse to accommodate the stores and satisfy their patrons who rely on them.

In a statement, spokeswoman Christa Segalini said, “The building is just one block from the existing shopping center and will enable tenants to continue to meet the needs of the neighborhood’s residents.”

Tuesday, January 27, 2015

Hipsters and Yuppies invading Bay Ridge

Real Deal excerpt -

For years, young professionals and families turned up their noses at Bay Ridge, a working-class area of southwestern Brooklyn, because of how far it is from Manhattan. But as real estate prices in trendier Brooklyn neighborhoods continue to climb, more and more city slickers are taking a second glance at the “original Gold Coast,” as locals call the area. With its phenomenal public schools, copious outdoor spaces, restaurant row, and affordable housing, Bay Ridge has a lot to offer.

The influx of young people has also changed Bay Ridge. Trendy, pricey restaurants have popped up on the main drag, a new crowd stays out later, and rents have significantly increased. Suddenly, Bay Ridge’s lifelong residents fear being priced out of their homes.

The last shred of Old Brooklyn — the grimy, comfortable, working-class borough where a cup of coffee cost a buck — is giving way to “Girls”-era, hipster New Brooklyn. Let’s see what all the fuss is about.

The neighborhood was developed more than a century ago as a seaside retreat for wealthy families. Mansions, since torn down, dotted the ridge along the tidal strait separating Brooklyn from the more suburban Staten Island.

Today the fabric of the neighborhood is changing. As real estate prices in trendier Brooklyn neighborhoods like Williamsburg and Park Slope skyrocket, young professionals and young families have set their sights on Bay Ridge.

For outsiders, owning property in Bay Ridge seems like a steal. The median sale price is $656,000, as compared to $1.4 million in the hipster mecca of Williamsburg, and $1.35 million in Park Slope, Brooklyn’s “stroller central.” 

This migration however, has caused massive spikes in real estate value. Both the median home sale price and median monthly rent are up 14% year over year, and rents are up 30% over two years.

Bay Ridge took the lion’s share of Brooklyn’s new development sales in the first quarter — nearly 20% — and sold more new two-bedroom homes than any neighborhood in the borough.

Construction fences go up for the New Coney Amphitheater

Took the pics this past weekend. Something to warm New Coney fans on this snowy day in Brooklyn......

Sunday, January 25, 2015

Real Deal - Schron bought 614 Sheepshead Bay Road for $18.1 million

This is where the the current tenants of Trump Village Shopping Center are likely to be moving as discussed at the Lincoln High School meeting this past week. I am surprised at the high price. Will they be expanding density here as well?

Real Deal excerpt -

Rubin Schron’s Cammeby’s International purchased a commercial building at 614 Sheepshead Bay Road in Coney Island for $18.1 million. The nearly 25,000-square-foot building, located between 6th and 8th Streets, housed a single retail unit. The property can be developed up to 55,280 square feet. The seller is listed as 614 Sheepshead Bay Rd. LLC. No new permits have been filed for the building, but Schron filed permits last week for a massive Coney Island development project just across the street at 532 Neptune Avenue that call for a 40-story, 544-unit mixed-use tower.

Saturday, January 24, 2015

Check out the New Pic for New Coney 2016!

New 40 Story Tower and Trader Joe's added to the ConeyRocks blog sidebar. In addition to the New Amphitheater, MCU Park, Luna Park and the New Aquarium!

Another anchor development added to New Coney 2016! Brooklyn's Times Square by the Sea!

Brooklyn Lyceum going Condo

Crains excerpt -

The buyer of a Brooklyn landmark has a plan to convert the space to luxury condominiums and to build a sizable rental apartment building next door. 

Greystone, a real estate investment and lending firm that has rapidly expanded its residential portfolio in the city over the past year, just closed on its purchase of the Brooklyn Lyceum, along Fourth Avenue in Park Slope, paying $7.6 million. The company is also buying a vacant lot next door for $13.5 million.

The company plans to build a 12-story apartment property on the empty site that will hold up to 70 rental units. It will convert the Lyceum, which was built a century ago as a bathhouse and has served in recent years as an events space, into two or three large luxury-condo units. The conversion will preserve and restore the ornate exterior of the property, which is a landmark. 

"We’re looking forward to restoring the building,” said Jeffrey Simpson, CEO of property development at Greystone. "This is a brownstone neighborhood, so we’re going to try to create something in context with that, inside with the units."

Friday, January 23, 2015

Trader Joe's Coming to Coney!!!!!

New Update on the Trump Shopping Center Tower -

Brooklyn Daily excerpt -

Hasher said the vision for the new retail space, which would have a mix of “upscale” and "neighborhood” stores, includes tentative plans for a Trader Joe’s and doctors’ offices. 

Fantastic Development News! Yessss!

Thursday, January 22, 2015

The Cosmos are coming to Coney!

Press Release -

NEW YORK (January 22, 2015) – The New York Cosmos announced today that the club will play a regular season game in 2015 at Coney Island’s MCU Park. As part of its Spring Season schedule in the North American Soccer League (NASL), the Cosmos will face the Ottawa Fury on Saturday, May 2 at MCU Park. Kickoff is slated for 7 p.m. ET.

“2015 marks Raúl’s debut season with our club,” Cosmos Chief Operating Officer Erik Stover said. “So we’re delighted to have the opportunity to play our first-ever game in Brooklyn and to continue to connect with fans and the soccer community in New York City.”

MCU Park is the centerpiece of historic Coney Island. It’s a multi-purpose venue that is not only the home of Brooklyn Cyclones championship baseball, but also a landmark in the Brooklyn community. Located just steps from Coney Island's famed boardwalk, MCU Park seats approximately 7,500 fans and hosts a variety of events and entertainment each year.

“MCU Park is excited to host the New York Cosmos, a club that has been instrumental in the development and popularity of soccer in the United States” said Steve Cohen, Vice President of the Brooklyn Cyclones. “Bringing professional soccer to Coney Island is another step in proving that the borough of Brooklyn is one of the best and most diverse sports markets in the country.”

Tickets for the NY Cosmos Brooklyn match are available now via season ticket, multi-game mini and flex plans via or by calling 855 – 71 – COSMOS. Individual tickets will go on sale at a later time.

For more information on the game such as stadium information, please visit

Update on Trump Shopping Center Tower

$450 million in investment, estimating $1 billion in economic activity. Beautiful. The Nimbys were out on full force yesterday. But they will never be able to stop this marvelous development because there is absolutely no need for rezoning. New Residential and retail coming to Coney..........

Wednesday, January 21, 2015

Trump Shopping Center Tower development meeting tonight

This should be fun!!! Can't wait to hear the plans. I'm sure a lot of Nimbys will show up too.

Brooklyn Daily excerpt -

UPDATED: The Trump Village Shopping Center meeting scheduled for Jan. 21 will indeed be held as originally planned, reversing the recently reported postponement. The meeting will be at 7 pm Jan. 21 at Abraham Lincoln High School. The Department of Environmental Conservation — which had reportedly asked the developer to postpone the Jan. 21 meeting until after the state agency’s own meeting on Jan. 28 to discuss contamination on the site — will now be at the Jan. 21 meeting and speak before the developer’s representatives.

Tuesday, January 20, 2015

IHOP coming to Coney!!!!

Yessss!!!!!! Times Square by the Sea baby! The Coney Island Blog has the story.

Monday, January 19, 2015

Saturday Night Live - Bushwick Gentrification Video

WSJ - High Rises spin Gold in Downtown Brooklyn

Excerpt -

There may not be a waterfront, but the glittering high rises piercing the sky in downtown Brooklyn give all the appearances of New York City’s next gold coast. 

In the apex of that development is the patchwork of lots surrounding Gold Street. While high-rise development on the street from 2008 to 2010 clustered north of Myrtle Avenue, the new round of shining columns is cropping up closer to Fulton Street Mall.

The Downtown Brooklyn Partnership, the local development corporation, estimates more than 13,000 affordable and market-rate residential rentals are in the pipeline, a result of the 2004 rezoning of downtown that added both more residential development, and Class A office space. Partnership president Tucker Reed says it created “huge opportunities for downtown Brooklyn to become a 24/7 destination.”

“The speed of change taking place now—it’s astonishing,” Mr. Reed said.

“It’s the only area in Brooklyn where there’s a concentrated density akin to what you find in Manhattan,” he said.

Fueling the frenzy is BKLYN AIR, a 40-story luxury rental tower at 309 Gold St., which opened in July and reached 75% occupancy in five months. MNS, the real-estate brokerage that marketed the building, also is in predevelopment planning for a 70-floor residential building at the corner of Gold and Willoughby streets. 

The new project will “tower over 388 Bridge,” said Andrew Barrocas, chief executive of MNS, referring to the 53-story condo-rental hybrid about four blocks away, which opened last June, and is currently Brooklyn’s tallest high-rise, according to its developer, the Stahl Organization.

“High-rise living is fairly new to this part of Brooklyn,” said Stahl Vice President Roger Fortune. “Downtown is a great location that [buyers] didn’t know was great.”

Given the area’s dormancy in the not-too-distant past, the pace of both discovery and construction is as dizzying as the building heights. The building at 388 Bridge has leased 90% of its 234 rentals and sold about 50% of its 144 condominiums, ranging from studios to four-bedrooms, Mr. Fortune said.

Supplementing the inventory soon: the 57-story Avalon Willoughby West, with 861 rental units, under construction a block away at 214 Duffield St.; 120 luxury rental lofts in a 19-century conversion at 248 Duffield St.; and 250 mixed-income and 440 market-rate apartments at City Point, the 1.8-million-square-foot retail/residential complex that abuts Gold Street.

On Fulton Street, long a center of urban street style, Shake Shack and Brooklyn Industries now flank the entrance to the pedestrian mall. H&M, and outlet stores from Nordstrom, Gap and Banana Republic have also put down roots alongside longtime tenants.

Brooklyn Hotel Development Heats Up

NY Observer excerpt -

You can now find an array of high-quality newcomers that came on line in the past five years, from sleek indie hotels to big brand chains, like the Sheraton, Hotel Indigo and Aloft, all on Duffield Street, downtown’s new hotel row. 
The growth has also spread beyond downtown and Williamsburg, with a Fairfield Inn and Suites in Gowanus, a kosher Clarion Inn in Borough Park and the music-infused Hotel BPM in Sunset Park.

What’s more, there are 29 more hotels with 2,600 rooms coming on line over the next few years—in addition to 4,300 existing rooms, according to a firm called Smith Travel Research—but the question remains whether they can come fast enough, given the borough’s ambitions to host the 2016 Democratic National Convention and the 30,000-plus people it will bring to the city. 

Sunday, January 18, 2015

Save the Wooden Boardwalk that has been falling apart for years!!!!

LOL I just have to laugh when I see nonsense like this protest. Wood, Imitation Wood, Concrete or a combination of all is just completely meaningless when the boardwalk has been broken for years. Loose planks, holes, gaps, people tripping all over the place. Have any of these people protesting actually walked the boardwalk??? It's been in shambles for years and years.......

Shout fix and maintain it before you shout it is must be all wood! Just shaking my head.

Video of today's protest

Stribling to host Brooklyn Development Tour

Real Estate Weekly excerpt -

Stribling Marketing Associates, the exclusive sales and marketing team behind the luxury new development project 345 Carroll Street, will host a “Brooklyn Development Tour” on Wednesday, January 21 from 10am to 4pm.

The tour will include stops at seven new development projects in Carroll Gardens, DUMBO, Brooklyn Heights, Boerum Hill, Downtown Brooklyn and South Williamsburg.

The day begins at 10am at the 345 Carroll Street sales office, located around the corner from the building site at 396 Court Street. 

A shuttle bus will pick up participants at 11am, then stop at all the properties/sales centers in a continued loop. A second pickup at the 345 Carroll Street sales center will take place at 1pm. The event ends 4pm.

“We’re looking forward to showcasing projects that are contributing to the overall growth of Brooklyn,” said Millie Perry of Stribling Marketing Associates, head of sales for 345 Carroll Street. “We hope to meet agents from multiple brokerage firms who can introduce a new set of buyers to these exciting areas and projects.”

Saturday, January 17, 2015

Condo Tower at Trump Village Shopping Center

This is going to be awesome for Coney! Love it! More Residential and more Retail!

NY Yimby excerpt -

Southern Brooklyn is undergoing a veritable building boom. In addition to the small infill projects planned in Brighton Beach and Borough Park – two of the last remaining neighborhoods in the city where single-family homes can be redeveloped en masse – we saw a pair of permit filings late last year for bonafide skyscrapers in Sheepshead Bay and Bath Beach.

Now, comes a filing for an even taller building: an application was submitted today to construct a massive 40-story, 430-foot-tall tower in Coney Island, at 532 Neptune Avenue (also known as 2851 West 6th Street). The project would bring a small mall’s worth of new retail space to the neighborhood, topped by 544 new apartments. If built, it would be by far the tallest tower south of downtown Brooklyn.

The developer is listed as Cammeby’s International Group, led by Ruby Schron (but with Avi, his son, listed on the permit). SLCE, who’s also designing the Sheesphead Bay project developed by Muss and AvalonBay, is listed as the architect.

The project would be located in what is today the Trump Village Shopping Center, the anticipated closure of which set off alarm last year among senior citizens at Trump Village, which surrounds the site. It would sit just south of the Neptune Avenue F station right next to the elevated tracks, in the West Brighton section of Coney Island.

The low-rise strip retail center would be demolished to make way for the 40-story tower, as rumored, which would amass air rights from across the massive 212,000-square foot site in order to build the tower, clocking in at a bit more than 690,000 square feet in size.

While the loss of the retail might be an imposition during construction, it would be more than replaced in the new project. The 120,000 square feet of existing retail would make way for a 162,000 square feet of new retail on the tower’s lower three floors, fronting on West 5th and West 6th streets as well as Neptune Avenue, along with nearly 16,000 square feet of community facility space, per the permit.

The main attraction, however, are the apartments. The project would bring 544 new housing units to the neighborhood – surely market-rate, and in one of the city’s most affordable areas. Spread across 514,000 square feet of space with 16 apartments on the fifth through 24th floors, and 14 each on the 25th through 39th, with mechanicals and a residential amenity space on the 40th. The apartment could go either rental or condo, or a combination of both, as with the Sheepshead Bay tower.

Thursday, January 15, 2015

Kings Theatre initial 2015 schedule announced

Brooklyn Paper excerpt -

Let the good times roll!

The Kings Theatre has announced its initial 2015 schedule, and it is chock full of big-name acts young and old, tending toward the old, to follow up the Feb. 3 grand opening featuring Diana Ross. “We are thrilled to host such a diverse roster of artists from around the globe for our inaugural year of live music, dance, and theater,” said Matt Wolf, director of the 3,000-seat Flatbush venue, in a statement.

Here’s who’s coming:

• Sarah McLachlan

• Frankie Valli and the Four Seasons

Disney Live! presents “Three Classic Fairy Tales,” for the kids

Mavado and Capleton, dancehall legends

• Widespread Panic

• Crosby, Stills, and Nash

Gladys Knight

• “Tales from the Silk Cotton Tree,” a musical play incorporating sonic stylings from across the Caribbean

• Moscow Ballet’s “Great Russian Nutcracker” 

• “Annie

NY Mag - Brooklyn Real Estate Prices Are at Record Highs

Excerpt -

As Manhattan goes, so goes Brooklyn. That's the word from fourth quarter real-estate market reports released today. According to the brokerage firm Douglas Elliman, the borough has broken records with its year-to-date average ($739,610, up from $674,272 in 2013) and median ($570,220, jumping from $550,000) prices. "Those are the highest [numbers] since 2003," says appraiser Jonathan Miller, the report's author who started tracking Brooklyn trends that year. This despite a slight dip — 3.1 percent — in transactions compared to the same period in 2013 and inventory rising by a meaningful 41 percent. In fact, says Miller, the gap between Manhattan and Brooklyn prices continues, on the whole, to thin out, a sign that buyers are increasingly less defined by borders and more by neighborhoods. An Astoria apartment-hunter may be just as likely to pick Hell's Kitchen or Cobble Hill. In Park Slope, a mansion made headlines for selling in November for a record-setting $10.775 million, a number that's typically associated with Manhattan houses.

Wednesday, January 14, 2015

Joe Sitt doing great things for Coney

First came It'Sugar and the Brooklyn Nets Store on Stillwell. Now The Coney Island Blog and the NY Post are reporting that Wahlburgers will be arriving in Coney May 1st. Sources informed ConeyRocks last month that the restaurant should be located in the Stillwell building right next to the Nets Store.

Way to go Joe Sitt! Go Coney Island! Now let's get a movie theater in Coney!

Here are the stories 

PS - Thanks to the Coney Island Blog for mentioning "Times Square by the Sea!"

Tuesday, January 13, 2015

"Piece of Velvet" store to open next to Rita's on Surf Ave

It's a cupcake store with locations in Brooklyn and Manhattan. The Coney Island Blog has the story here -

WSJ - Bed Bath & Beyond Takes Sunset Park

Excerpt -

Bed Bath & Beyond Inc. has signed a lease to take more than 100,000 square feet at Liberty View Industrial Plaza, a technology and industrial complex in the Brooklyn neighborhood of Sunset Park, said an executive with the real-estate firm that represented the building owner in the deal. 

The home-furnishings retailer plans to place four of its stores on the building’s second floor: Bed Bath & Beyond; buybuy BABY; Cost Plus World Market; and Harmon Face Values. 

“They are going to be bringing a whole new center of retail gravity to this part of the world,” said Tim King, managing partner of CPEX Real Estate Services LLC, located in Brooklyn.

The lease deal represents a milestone for the building’s owner, Salmar Properties LLC. The firm has spent about $100 million over the last 2½ years to overhaul the long-vacant industrial loft, which was built in 1918.

“Bed Bath & Beyond originally wanted just one store but then started to realize they could create a new experience in the building,” said Marvin Schein, managing member of Salmar.

Such a large project by a major retailer will boost property values in the area and lure other types of shops into the neighborhood, Mr. King said. He said he expects Bed Bath & Beyond’s four-store concept to draw shoppers from the entire borough. The complex has a parking lot that takes up an entire block adjoining the building.

Brooklyn’s popularity and the many residential developments that have sprung up over the last several years have helped boost the borough’s retail corridors. 

A 2014 CPEX retail report identified 43 additional retail corridors in Brooklyn, bringing the total number to 88. Of those 88 retail districts, 10 corridors had retail rents over $100 a square foot compared with just two corridors five years ago.

Sunday, January 11, 2015

El Greco condos press release


Rooftop pool and Groundfloor retail included!

Citybizlist -

Buyer Intends to Replace El Greco Diner with High-End Condo Development
GFI Realty Services, Inc. today announced the $13-million sale of 1821 Emmons Avenue, a property in the Sheepshead Bay section of Brooklyn, N.Y. The 41,700-square-foot property formerly housed the iconic El Greco Diner.

GFI Realty Senior Director Erik Yankelovich was the sole broker in the transaction. The seller, a local family, had owned and operated El Greco since the 1970s.

The buyer, Rybak Development & Construction, plans to convert the property into a luxury condominium building with ground-floor retail. 

“Southern Brooklyn is providing local businesspeople and property owners with excellent opportunities to maximize the return on their investments,” said Yankelovich. “Neighborhoods such as Sheepshead Bay are being revitalized with an influx of young professionals due to their waterfront charm and affordability. With asset prices affordable when compared with similar properties in other parts of New York, these areas have become prime for investment and development.”

The last parcel of underdeveloped land facing the bay, the full-block lot will house the latest addition to Rybak’s growing South Brooklyn multifamily portfolio. The high-end development planned for 1821 Emmons includes a bay-facing rooftop deck, which will include a pool.

The transaction is the latest Sheepshead Bay deal completed by Yankelovich, who has also brokered a new construction site at Banner Avenue, as well as the sale of a Loehmann’s located just blocks from El Greco.

Also in recent months, Yankelovich arranged for numerous record-breaking sales of multifamily buildings in Prospect Lefferts Gardens. In December, his sale of a rent-stabilized apartment building at 115 Ocean Avenue set area records for rent mulitiple, price per unit and price per square foot.

“With this most recent Sheepshead Bay deal, Erik continues to build his reputation as one of the premier brokers in Southern Brooklyn,” said Michael Weiser, president of GFI Realty.

Saturday, January 10, 2015

Across the street from Sheepshead's new Muss development


Excerpt from NY Yimby - 

Last month, a permit was filed to build a four-story commercial building at 1607 Sheepshead Bay Road, in southern Brooklyn. Now, YIMBY has a rendering of the project, which will hopefully soon rise amidst Sheepshead Bay’s miniature building boom.

Designed by Tricarico Architecture, the building will have a classical look, with arched retail bays and a brick and stone exterior with cornices at the top of the building and above the windows. The ground floor will be made up of retail space, while the upper three floors will be offices, for a total of a bit over 18,000 square feet of usable place, rated for occupancy by up to around 200 people.

1607 Sheepshead Bay Road, rendering by Tricarico Architecture
1607 Sheepshead Bay Road, rendering by Tricarico Architecture

Looks like boardwalk rebuild has begun

About time they fixed the boardwalk. This has been going on for years. All the protests about  wood or concrete are meaningless when the boardwalk keeps falling apart. Glad to see work commencing.

Bay News pic and article

The 2 Big Sheepshead Bay Developments have broken ground

Both the El Greco condo site on Emmons, and the Muss/Avalon condo site on Sheepshead Bay Road   have construction fences up with development work commencing. Both tremendously important to the future growth of Sheepshead Bay and South Brooklyn.

Thursday, January 8, 2015

Daily News - Brooklyn Office Buzz

Excerpt -

It's the biggest office project in Brooklyn since MetroTech.

A cluster of Dumbo buildings once comprising a vast Brooklyn portfolio owned by the Jehovah Witnesses will begin its transformation into a high-tech office and retail hub in 2015.

Construction sheds that have been up all over the campus for months will begin to come down this spring, revealing 80,000-square-feet of retail and restaurant spaces, developer Jared Kushner told the Daily News.

Craft company Etsy and shared workspace provider WeWork have already announced leases at the facility but many more high-profile deals will likely come to light this year.

Monday, January 5, 2015

Brooklyn Paper - Could Coney become a New Year's vacation destination?

Excerpt -

Could Coney Island become a New Year’s vacation destination?

Brooklynites rang in 2015 on the Boardwalk on Dec. 31 at a New Year’s Eve countdown party centered around the Parachute Jump. Borough President Adams promised that the inaugural bash would be a new annual tradition for Coney Island, and an aide suggested that the event could eventually draw tourists to sleep over in Sodom by the Sea.

“You could see people, in future years, coming here for New Year’s Eve, and staying the night for the Polar Plunge on New Year’s Day,” Borough Hall communications director Stefan Ringel said.

Times Square competition reports keep rolling in

Home Reporter news excerpts -

“We were extremely pleased with the number of people that turned out. It was a family friendly environment,” added Adams. “I believe it has great potential and we want to make Coney a year-round destination and this was one way of doing that. We had little or no incidents at all. Everyone got along great.”

Dick Zigun, the founder and artistic director of Coney Island USA was also proud to see the plans come to fruition. “New Year’s Eve in Coney Island was a big success. It was first time trying to launch a major annual mass celebration,” he said, stating an estimated 5,000 people turned out. “The never-before-used Steeplechase Plaza had the right feel, the right capacity and placement right under the National Landmark Parachute Jump, plus a fire spitter, freaks and fireworks fulfilled the right big event programming.

Although Time Square received national attention, Brooklyn has quickly become a popular alternative, according to Treyger. “It’s an example that they don’t need only the Manhattan skyline to validate or celebrate great New York events,” he stressed. “There are other options.”

After a first successful event, the future looks bright for Coney’s end-of-year celebration. “Moving forward, we will have more time to plan. There will be a lot more planning with organizations to plan out a day’s worth of activities and make it even bigger,” Treyger said. “The Parachute Jump is like the Brooklyn’s Eiffel Tower. It was a special evening.”

“It was a huge success for the concept to be improved on next year and for decades to come,” added Zigun.

Friday, January 2, 2015

NY Times - Kings Theater in Flatbush Set to Reopen, and Lift a Neighborhood

Excerpts -

Mr. Anderson predicts the theater will create the equivalent of approximately 100 full-time jobs. He and the City Economic Development Corporation also believe it will spur economic development beyond the new Gap Factory, Crunch gym and boutique hotel. The hotel, which is being developed by the Brooklyn-based SY Group I, will have 69 rooms on Floors 2 through 7, and a 3,000- to 4,000-square-foot restaurant on the ground floor, said Joseph Sardor, president of SY Group I.

“When you see people investing in a neighborhood — be first movers — others will follow,” said Margaret Anadu, a managing director of Goldman Sachs who oversees the Urban Investment Group’s investments in New York and New Jersey.

Kings Theater will be “a catalyst for economic development along Flatbush Avenue,” said Marty Markowitz, the former Brooklyn borough president. “There’s no doubt restaurants will come back.” Mr. Markowitz began fighting in the 1970s, initially as co-founder of the Flatbush Development Corporation, to save the theater, the first place he “took a girl on a date alone.”

Currently vice president for borough promotion and engagement for NYC & Company, the city’s tourism marketing agency, Mr. Markowitz predicted tourists “will go wild over the job they did inside.” He also predicted the theater would be used as a set for television productions and for high school graduations, as it often was in the past.
Kings Theater, he added, will be “Brooklyn’s Beacon and Apollo theaters all in one.” It’s an apt analogy, since an Apollo favorite, Diana Ross, will perform at Kings Theater’s first concert when it reopens Feb. 3.

Totally disagree with Zigun's opinion on Coney gentrification

Here is his comment -

“Gentrification is bad when there’s something in your community that you’re fond of that gets forced out because rents go up and something bland comes in. I would argue that what’s happening in Coney Island is more rides, more restoration, bringing back areas like Surf Avenue from an illegal furniture district to a late night eating and drinking strip. There’s good things going on in Coney Island and I’m exited  (sic) about that..”

Bland??? According to who? Zigun? Are Times Square chains bland according to him? Also, Surf Avenue is not just going to be a late night eating and drinking strip. It is zoned for hotels, retail, restaurants and residential. 

People tend to define "good" and "bad" development by their own personal tastes, when it is really just an opinion.  An opinion that is very easy to disagree with.  Development attracts development.

Go New Coney! Brooklyn's Times Square by the Sea!

PS - The article goes on to say - "Three years ago his team put a lighting system with LED lights covering Parachute Jump’s entire tower."  That is incorrect. The Parachute Jump lighting was done by Zamperla not Zigun's CI USA.

Thursday, January 1, 2015

Coney Polar Bear Swim 2015

From the SI Advance

New Year's Eve in Coney - WHAT A SUCCESS!

Thousands of people on the boardwalk. Look out Times Square, Here comes Coney!