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Archive for the ‘Redevelopment’ Category

Update: Coney Island’s 1st Private Beachfront Condos on Boardwalk

Posted in Real Estate, Redevelopment, tagged beachfront condominium, Boardwalk, Brooklyn, Bruce Handy, condo, Coney Island, residential on December 20, 2011| 9 Comments »

Over the weekend ATZ got to wondering whatever happened to the condos under construction on the Boardwalk at West 32nd Street? There continues to be a lot of interest in this property. “New Construction: Coney Island’s 1st Private Beachfront Condos on Boardwalk” (ATZ, February 17, 2011) is among Amusing the Zillion’s Top 10 Coney Island News Stories of 2011, our year-end post, which we’re working on now.

Coney Island photographer Bruce Handy, whose Sunday walk took him in that direction, sent us the above photo. “There were no for sale or rent signs on the condo fence, only construction signs,” he said. It turns out the four-story building, which has 11 units including 1, 2 and 3 bedroom apartments, is still under construction. Though it appears to be almost finished, construction is stalled for now. According to the DOB website, there’s a partial stop work order on the property due to two open ECB “Work Without A Permit” Violations. One is for doing electrical work on a Saturday without a variance permit. The second is for installing scaffolding without a permit. An administrative hearing is pending.

Beachfront Condos Under Construction on Boardwalk at 32nd St, Coney Island. February 17, 2011. Photo © Bruce Handy/Pablo 57 via Android

The long-vacant, 6,779-square-foot beachfront lot was purchased by New Vision Capital for $1.5 million in 2009. “NVC’s primary focus is the identification of intermediate and longer term opportunities, where positive cash flow and/or impressive capital appreciation are anticipated,” the company’s website says. On Monday, a rep at NVC told ATZ that they hope to complete construction by year’s end and that the penthouse and a few of the three bedrooms are sold. Current prices are $510,000 for a one-bedroom, $685,000 for a two-bedroom and $840,00 to $910,000 for a three-bedroom unit. In February, the asking price for the penthouse was $1.55 million. As we wrote then:

Located in the West End of Coney Island, across the street from the NYC Housing Authority’s Coney Island Houses, this new construction is a harbinger of more beachfront residential to come. The rezoning plan approved by the City Council in 2009 put 26 high rise residential towers and 5,000 new units of housing in Coney Island, including beachfront condos on Taconic Investment Partners 5.5 blocks of vacant land just west of MCU Park (West 20th Street).

Coney Island Aerial: Detail of Conceptual Rendering. CIDC Press Kit

Coney Island Aerial: Detail of Conceptual Rendering Shows Residential Towers West and North of MCU Park. CIDC Press Kit

Paul’s Daughter Signs 8-Year Lease for Coney Island Boardwalk

Posted in Food, Real Estate, Redevelopment, tagged Boardwalk, Central Amusement International, Coney Island, Gregory & Paul's, Paul's Daughter, restaurant, Tina Georgoulakos on December 9, 2011| 12 Comments »

1959: Paul's wife and daughter visit him on the Bowery. Photo © Tina Georgoulakos via Paul's Daughter Facebook

We’re thrilled to report that this afternoon, Tina Georgoulakos of Paul’s Daughter, formerly known as Gregory & Paul’s, signed an 8-year lease for her family’s restaurant on the Coney Island Boardwalk. “I’m happy because the Burger statues wanted to stay where they belonged,” she told ATZ wryly. “Now they will get a new sign.”

In October, Papa Burger, a fiberglass figure on the restaurant’s roof, sported a sign that said “Looking for a New Beach.” The 49-year old Mom-and-Pop had been evicted along with seven others by Zamperla, which runs Luna Park. In a surprising about-face, the amusement operator invited two of the businesses–Paul’s Daughter and Ruby’s Bar–to stay and negotiations have been going on for weeks.

Both Papa and Mama Burger and a mix of new and old hand-painted signage as well as a neon sign are expected to be part of the new Paul’s Daughter when it reopens in April 2012. Tina’s father, 82-year-old Paul “The Chief” Georgoulakos, the oldest operator on the Coney Island Boardwalk, will be back too. It appears that our habit of taking photos of “The Last French Fry” as a good luck charm worked two years in a row!

UPDATE December 12, 2011…Zamperla’s Boardwalk line-up for 2012 is now set. As we noted in the comments, Ruby’s Bar signed an 8-year lease, as did another Boardwalk veteran, the Lola Star Boutique. Tom’s of Prospect Heights will open a second restaurant on the Coney Island Boardwalk, at the corner of Stillwell where Nathan’s and Cha Cha’s were located. See “Coney Island 2012: What’s New on the Boardwalk” (ATZ, November 15, 2011) for details and renderings of the new stores, including Nathan’s, Brooklyn Beach Shop, Ruby’s and Paul’s Daughter, as well as the new Sky Coaster and other rides.

Lola Star Boutique Signs 8-Year Lease for Coney Island Boardwalk

Posted in News, Real Estate, Redevelopment, tagged Boardwalk, Coney Island, fashion, local, Lola Star, shopping on December 9, 2011| 2 Comments »

Dianna Carlin aka Lola Star with Shimmer in Lola Star Boutique, Coney Island Boardwalk, April 2, 2011. Photo © Tricia Vita/me-myself-i via flickr

Congratulations to Dianna Carlin, the first of the Boardwalk veterans to announce that she has a done deal with Zamperla’s Central Amusements International, which holds the lease on the City-owned property. Last night, the owner of the Lola Star Boutique on Coney Island’s Boardwalk tweeted, “So, I have some really incredible news…after much negotiating…Tonight I signed my lease to rent my boardwalk shop for the next 8 years!!” The boutique was one of only two Boardwalk businesses invited back by CAI last November, but lease negotiations went on for months.

Carlin is an entrepreneurial spirit whose successful projects include the Dreamland Roller Rink, a shop in Stillwell Terminal, a pop-up shop in SoHo and the new Star Pet Boutique. This afternoon, she announced a “2 TEES FOR $30 SALE” at her Boardwalk Shop this weekend “in celebration of the fact that we will be radiating our hot pink aura of fabulousness in Coney for the next 8 years!” The shop will be open Saturday and Sunday from 12 noon-5pm.

Hopefully more good news is on the way today or in the next few days. Will Boardwalk favorites Ruby’s Bar and Paul’s Daughter sign the leases which they were offered after a Miami restaurateur and Sodexo retreated from deals to take over their spaces? Negotiations have been going on since October over various clauses in the leases, leading to intense speculation about whether or not the beloved Mom and Pops will be back. As one of Ruby’s Facebook fans put it: “Arrgh! The suspense is killing me!”

UPDATE December 12, 2011…Zamperla’s Boardwalk line-up for 2012 is now set. As we posted on Friday, Paul’s Daughter signed an 8-year lease, as did Ruby’s Bar. Tom’s of Prospect Heights will open a second restaurant on the Coney Island Boardwalk, at the corner of Stillwell where Nathan’s and Cha Cha’s were located. See “Coney Island 2012: What’s New on the Boardwalk” (ATZ, November 15, 2011) for details and renderings of the new stores, including Nathan’s, Ruby’s, Paul’s Daughter and Lola Star as well as the new Sky Coaster and other rides.