21-story, mixed-use development slated for Coney

January 10, 2017 Anna Spivak
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Billionaire and owner of Red Apple Group John Catsimatidis has big plans in store for Coney Island.

According to real estate website YIMBY, the developer’s private company – which operates and owns assets in the energy, real estate, finance, insurance and super market industries – filed plans last week for a 21-story, mixed-use development to be built along Surf Avenue.

YIMBY reports that the billionaire’s company plans on grounding the building with retail space, followed by apartments across the third through 21st floors, a 254-car parking garage across the cellar through second floors and residential amenities across the second through fourth floors.

The development – which reports claim would be called “Ocean Dreams” – would encompass 432,300 square feet on Surf Avenue between West 35th and West 36th Streets and would rise 185 feet. The apartments, about 311 units in total, should average 969 square feet apiece, according to YIMBY.

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