With various new developments on Surf Avenue, there is an increased interest in the private residential community of Seagate. One of the main reasons for this recent interest, is a new development by developer John Catsimatidis on Coney Island’s Waterfront called “The Coney Island Towers”.
Catsimatidis’ new project is a big “sign that Coney’s stock is rising”. The towers will be 500 units, and they are building them as rentals, with the option to change back into condos according to market response.
Another similar construction, in the private community of Seagate, is just two blocks away from the Coney Island Tower site. 3804 Atlantic Avenue is one of the first properties available for sale in Seagate. The asking price is $2,995,000, which $599 per square foot makes this the most affordable price for luxury new development in south Brooklyn!
Another exciting addition to the area is the Coney Island Amphitheater, a brand- new 5,000 seat outdoor music and entertainment venue, home to Coney Island’s Seaside Summer Concert Series. Some recent performances in this new space were Sting and Peter Gabriel.