A development site at 2854-2858 Stillwell Avenue, located between Mermaid and Neptune Avenues in Brooklyn’s Coney Island neighborhood, was sold in an all cash transaction valued at $1,375,000.
The two lots combined represent approximately 9,515 square feet, allowing for approximately 28,554 buildable square feet of residential use. The lots are currently improved by fully occupied four family building. There is significant development potential in the large parcel, especially considering the scarcity of new residential units in the vicinity. The Coney Island Rezoning Plan was approved in July 2009 and will usher in sweeping improvements to the area. The site benefits from its close proximity to major thoroughfares and public transportation.
Click here for press release
Neighborhoods: Coney Island/ Agents: Stephen Preuss