Brooklyn Eagle excerpt -
new retail/residential development currently under construction in
Coney Island is starting to attract commercial tenants, according to the
Cammeby’s International Group, the real estate firm handling
Neptune/Sixth, a new mixed-use development going up at 532 Neptune Ave.
and 626 Sheepshead Bay Road, announced on Sept. 28 that CVS Pharmacy has
signed a lease to occupy a portion of the retail space at 532 Neptune
Under the lease, CVS Pharmacy will occupy approximately 11,300 square feet of ground-floor retail space in the building.
Until the space is ready, the pharmacy will be temporarily located at the corner of Neptune Avenue and West Sixth Street.
“As a community-oriented development, Neptune/Sixth aims to
enhance the area by creating more modern accommodations for existing
businesses — like CVS — as well as for new retailers that will add to
Coney Island’s vitality,” Jacob Cohen of Cammeby’s said in a statement.
Neptune/Sixth is a redevelopment of the former Trump Village
Shopping Center and Royal Palace Baths. The new development will house a
variety of services and retail options, while adding new amenities like
parking, according to Cammeby’s.
Construction on the development’s first phase, a seven-story,
161,000-square-foot retail and commercial building at 626 Sheepshead Bay
Road, is underway and is expected to be completed by the summer of
Cammeby’s expects to begin work for the retail portion of the Neptune Avenue site this fall.
Winick Realty Group has been retained as the exclusive retail
leasing agent for Neptune/Sixth. The Lawrence Group is overseeing
leasing for the development’s office space.
At 40 stories, the Neptune Avenue building will be the tallest structure in Coney Island.
When Hurricane Sandy lashed the New York coastline and drowned neighborhoods like Sheepshead Bay, Brooklyn, there was some chatter about retreating from the waterfront.
four years later, volatile weather and the ever-present threat of
another storm surge has not deterred developers in this former fishing
village, where a 28-story condominium is rising on a street once deluged
by floodwater. A few blocks away, on a restaurant-lined avenue facing
the waterfront, a seven-story commercial and residential development,
with a rooftop deck and pool, is also under construction.