ERG Announces Availability of Ocean-Front Development Site with Approved Plans

New York, NY, August 17, 2012 --( ERG Property Advisors is pleased to have been named the exclusive broker for 271 Sea Breeze Avenue in Brooklyn’s Coney Island.

271 Sea Breeze Avenue (The Sochi) is a construction-ready oceanfront lot with approved plans for residential development. Additionally, current zoning allows for a new extended-stay hotel, condo, rental, senior living development or a combination thereof.

The site is situated directly on the waterfront and current architectural plans provide all units with ocean views, penthouses with private, open-air, rooftop swimming pools as well as other luxury amenities. There are also approved plans for an additional 31,000 SF of community facility space bringing the development to a grand total of 121,855 SF of buildable space.

A waterproof foundation is already in place at the site and current plans allow for as many as 183 extended-stay hotel rooms, 153 condos or apartment units, as well as an automated parking garage with a holding capacity of 102 spaces.

Notably, all necessary environmental surveys have been completed, determined to be clean, and the property is ready for construction to continue.

271 Sea Breeze Avenue is close to the Ocean Parkway and Belt Parkway providing easy access to all boroughs and Long Island. Nearby transportation includes the Q Subway line and the B1, B36 and B68 bus lines. The lot is located in front of Asser Levy Park, steps away from the boardwalk, beach, NYC Aquarium, and Coney Island attractions.

The asking price for the property is $14,000,000.

For more information about this property, please contact Richard T. Guarino at (646) 253-0909. Vlad Loktev at (646) 253-0952, or Shawn Campbell at (646) 253-0960.

About ERG Property Advisors
ERG Property Advisors is a full-service commercial real estate brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles.
ERG Property Advisors
Matthew Ledvina