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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 2315 Mermaid Avenue, located between West 23rd and West 24th Streets in Brooklyn’s Coney Island neighborhood, was sold in an all-cash transaction valued at $335,000.

The three-story building contains approximately 3,246 square feet and sits on a 19.67’ x 100’ lot.  It consists of a ground floor commercial unit, most recently used as a doctor’s office, and two floors of residential space.  The building was delivered vacant.  The site contains approximately 4,780 buildable square feet, and the sale price equates to approximately $70 per buildable square foot.

The building is in close proximity to the newly rezoned and revitalized Coney Island Amusement Area where New York City and private firms have invested nearly $500,000,000.  Nearby transportation includes numerous bus lines as well as the D, F, N, and Q subway lines at Stillwell Avenue.

“The building was flooded by Hurricane Sandy midway through the listing process. However, because our marketing had procured several interested parties we were still able to move to contract,” said Massey Knakal Director of Sales Brian R. Hanson, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Coney Island