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February 11, 2008
Big Coney Development Site Trades Hands
While Catsimatidis plays wait-and-see with the huge Myrtle project, his Red Apple Group appears to be betting big on a whole different section of Brooklyn: Coney Island. The developer/possible mayoral candidate/supermarket magnate purchased the vacant lots on Surf Avenue near the western end of the boardwalk where Brad Zackson and David Weisz planned to build a $56 million luxury condo development called Ocean Dreams (as rendered to the right). The Red Apple Group bought the properties last week for a little shy of $14 million, according to city records. It’s not clear whether the purchase means Ocean Dreams won’t happen as originally conceived or whether the original developers have simply passed the baton to Catsimatidis. GMAP
Rendering from the Brooklyn Eagle.
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