Coney Island may soon see a real estate boom
Coney Island and nearby areas such as Brighton Beach, neglected for decades, may be experiencing a real estate boom in the near future.
As an example, CNBC mentions the 21-story, 425-unit Ocean Dreams development owned by developer John Catsimatidis.
Management consultant John Boyd said that demand for such developments will come from millennials, “nostalgic baby boomers” who enjoyed Coney Island during the 1950s and ’60s, Russian investors and people from the nearby Russian immigrant community.