A massive new development is set to rise across from MCU Park in Coney Island, making it one of the largest new developments proposed in the neighborhood in recent years. The development will span multiple buildings and three city blocks, according to YIMBY, which first reported on the project.
Developed by the Prusik Group and Taconic Investment Partners, who have also partnered on Lower East Side’s Essex Crossing megaproject, the Coney Island development will create 1,000 new apartments, 80,000 square feet of office space, and 150,000 square feet of retail.
The developers have owned the land here for quite some time now. Taconic picked up several parcels between 2005 and 2006 for nearly $12 million, according to The Real Deal. At present, the development officially carries the address of 1709 Surf Avenue.
Other new projects in the neighborhood include the John Catsimatidis-developed Ocean Dreams, and a 40-story tower that will be the tallest residential building in South Brooklyn. Work on the new Surf Avenue project is expected to wrap in 2020.