TerraCRG brokers $20 million sale of oceanfront development site

Brooklyn, NY TerraCRG brokered the $20 million sale of 2015 Boardwalk West, an oceanfront development site located beside the Coney Island Boardwalk. TerraCRG exclusively represented Bath Site LLC, the seller, in the transaction. Nalcorp and Clipper Equity acquired the property. The transaction was brokered by Dan Marks, CEO, and Daniel Lebor, partner and EVP, of TerraCRG.

Spanning 69,530 s/f, the property features 247 ft. of boardwalk frontage and is zoned R7D/C2-4 – CI. The site’s scale, flexible zoning, and oceanfront location presented a rare opportunity to develop along the city’s waterfront.

“Coney Island has become one of New York City’s most exciting waterfront growth stories,” said Marks.

“Ongoing public and private investment has transformed the area into one of the city’s most compelling waterfront markets. As a result, opportunities to acquire premier development sites along the boardwalk have become increasingly limited, making this one of the most significant development transactions in the neighborhood in recent years.”

The property offers views of the Atlantic Ocean and is surrounded by some of the city’s most celebrated attractions, including Luna Park, Maimonides Park, the New York Aquarium, Nathan’s Famous, the Coney Island Amphitheater, and Coney Island Beach. The site also benefits from convenient access to the D, F, N, and Q subway lines, providing direct connectivity to Brooklyn and Manhattan. As investment and redevelopment continue to reshape Brooklyn’s southern waterfront, the sale of 2015 Boardwalk West marks another significant milestone in the continued evolution of this world-renowned destination.