A surface parking lot along the Coney Island boardwalk just sold for $20 million, nearly double what it fetched only two years earlier. The 69,530-square-foot property at 2015 Boardwalk West traded hands in a deal brokered by TerraCRG, with developers Nalcorp and Clipper Equity emerging as the buyers of an oceanfront development parcel.
The site’s seller, Bath Site LLC, had purchased the property in July 2024 for $10.4 million before flipping it for $20 million, according to TerraCRG. Bath Site LLC is an affiliate of Safehold Inc. TerraCRG represented the seller in the transaction, with the deal brokered by the firm’s CEO, Dan Marks, and partner and EVP Daniel Lebor, according to New York Real Estate Journal.
“Coney Island has become one of New York City’s most exciting waterfront growth stories,” Marks said, per the same publication. The parcel carries 247 feet of boardwalk frontage and offers views of the Atlantic Ocean, sitting within walking distance of Coney Island Beach, Luna Park, Maimonides Park, Nathan’s Famous, the New York Aquarium, and the Coney Island Amphitheater. It also has access to the D, F, N, and Q subway lines, which provide direct connectivity to Brooklyn and Manhattan.
A Parking Lot With Big Air Rights
A Parking Lot With Big Air Rights The property is a development site, according to PincusCo. The sale price works out to $152 per buildable square foot and approximately $288 per square foot of land area, the outlet reports. The lot is zoned R7D/C2-4 – CI, according to the NYC Department of City Planning…