Stalled Condo Development

Stalled Condo Development
Coney Island, NY
Appraised at $15 Million
105,000 Buildable SF
Past Auction

Property Highlights

Size
105,114
Address
271-275 Sea Breeze Avenue
City, State
Brooklyn, NY
Appraised Value
$15,000,000

How to Participate

  1. Download Brochure Click Here
  2. Purchase Due Diligence
    No Longer Available
  3. Attend Inpsection
    Call (212) 867-3333 to schedule an inspection.
  4. Sealed Bid Auction
    Sealed Bid Deadline and Instructions
    Bids are due 5pm EST on Thursday, June 9, 2011.
    Submit bids in a sealed envelope marked “Confidential” and deliver to:
    Paramount Realty USA
    Attention: 271-275 Seabreeze Avenue Auction
    299 Park Avenue, 20th Floor
    New York, NY 10171
Sealed Bid Deadline - June 9th Appraised for $15 Million in 2010 Paramount Realty USA is the exclusive agent representing the owner in the sale of the fee interest of a 27,753 sf partially improved parcel of land located at 271-275 Sea Breeze Avenue, Kings County, Brooklyn, NY (the "Property") and any assignable intellectual property associated with the Property. To date, the Property’s water/sewer infrastructure and foundation work is fully complete. The foundation work includes a Krystol Internal Membrane™ (KIM®) with a 30-yr manufacturer's warranty. Given that the unknown conditions associated with subsurface construction are no longer a concern, a new owner can immediately commence pouring the above-grade floor slabs for building. Previously, the Property received approvals to be improved with a 151,845 gross sf mixed used project comprised of 97 residential units (41x 1BR/1BA, 25x 2BR/2BA, 24x 3BR/3BA, 4x 3BR/3BA duplex penthouse units and 3x 4BR/3BA duplex penthouse units in 105,114 sf), a community facility (17,505 sf), and 165 parking spaces. Given the location of the Property (directly north of Asser Levy Park), the units, if developed in accordance with the proposed plans, will have sweeping, unobstructed views of the Atlantic Ocean. The buyer may seek to utilize the previously approved plans or seek alternative plans for the site.

Broker Participation

Click below to download registration form Download