Successful Sale of 2015 Boardwalk West in Coney Island, Brooklyn
Bob Knakal and his team successfully closed the sale of 2015 Boardwalk West, a large-scale development site in Coney Island. The property, boasting a buildable square footage of 705,600, was sold to City Investment Fund for $90,000,000. Bob’s expertise and tailored strategy ensured a seamless transaction and an excellent price for the seller.
Sale Details
This significant sale marked a milestone for Thor Equities, as the development site attracted interest due to its prime location and development potential in Coney Island’s iconic neighborhood. Bob’s team identified City Investment Fund as the ideal buyer, leveraging the property’s unique attributes and market positioning to secure an excellent deal.
- Sale Price: $90,000,000
- Seller: Joseph Sitt, Thor Equities
- Buyer: City Investment Fund
- Property Type: Mixed Use Development
- Neighborhood: Coney Island, Brooklyn
- Sale Date: June 7, 2006
Property Overview
2015 Boardwalk West offered a unique opportunity for large-scale development in the heart of Coney Island. The property’s prime location near the iconic boardwalk, coupled with its vast buildable square footage, made it a highly sought-after asset.
- Buildable Square Footage: 705,600 SF
- Price per SF: $127.55
The Client’s Perspective
Joseph Sitt, a visionary developer and head of Thor Equities, chose Bob Knakal and his team to guide the sale. Their focused strategy identified the right buyer to maximize the property’s value. The flawless execution met and exceeded the client’s expectations.
Neighborhood Overview
Coney Island remains a vibrant and historic part of Brooklyn, attracting developers eager to contribute to its revitalization.
- Property Location: Near Coney Island Boardwalk, Luna Park, and New York Aquarium.
- Development Opportunities: Strong demand for residential and mixed-use projects.
Testimonial
“Bob Knakal and his team found the perfect buyer for our site. They did everything they said they would, and we are thrilled with the results.”
– Joseph Sitt, Thor Equities
Learn More About New York Real Estate Development
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