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# $40 Million Asking Price On 18 Coney Island Avenue Tax Lots
- URL: https://bklyner.com/40-million-asking-price-on-18-coney-island-avenue-tax-lots-ditmas-park/
- Published: 2013-10-22T18:45:47.000Z
- Updated: 2014-09-30T12:35:46.000Z
- Author: Nora Whelan
- Tags: Coney Island Avenue, for sale, #API-Imported

![coney island avenue via google maps](/content/images/wp-content/uploads/2013/10/Screen-Shot-2013-10-22-at-3.10.40-PM-600x396.png)

[The Real Deal](http://therealdeal.com/blog/2013/10/22/18-lot-ditmas-park-portfolio-hits-market-for-40m/?ref=bklyner.com) first reported today that [Massey Knakal Realty Services](http://www.masseyknakal.com/?ref=bklyner.com) is heading up the sale of [18 tax lots spanning from Coney Island Avenue to Cortelyou](http://www.masseyknakal.com/listings/detail.aspx?lst=22371&ref=bklyner.com), E 9th Street, and even a tiny bit of Ditmas Avenue. The combination of residential and commercial buildings, parking lots, garages, office space, and warehouses ([see the layout here](http://www.masseyknakal.com/listingimages/setup/pdf/Coney%5FIsland%5FAve%5FPortfolio%5F-%5FSetup.pdf?ref=bklyner.com)) total approximately 78,000 square feet and span over 400 feet down Coney Island Avenue.

About 298,000 buildable square feet is allotted for the construction of a community space, and 135,000 for commercial space. Combing through the lots on the [Department of Buildings site](http://a810-bisweb.nyc.gov/bisweb/bispi00.jsp?ref=bklyner.com), it’s clear the buyer will have a few stop work orders to contend with–and it *is* [accident-plagued Coney Island Avenue](/blog/tag/coney-island-avenue).

Given the way the area is going, though (with recent additions [Brooklyn ARTery](http://www.brooklynartery.com/?ref=bklyner.com), [Bar Chord,](http://www.barchordnyc.com/?ref=bklyner.com) [The Highbury Pub](/blog/tag/highbury-pub), and [Brooklyn Belly](http://bkbelly.com/?ref=bklyner.com), and soon-to-come [TriBeCa Pediatrics](/blog/business/tribeca-pediatrics-coming-to-coney-island-avenue-in-2014)), do you think $40 million is a good investment now, or is this totally off the wall?

*Photo via [Google Maps](https://maps.google.com/maps?client=safari&oe=UTF-8&q=806+coney+island+avenue&ie=UTF-8&hq=&hnear=0x89c25b324b942d1d:0x6852d6db5b887b66,806+Coney+Island+Ave,+Brooklyn,+NY+11235&gl=us&ei=Cs1mUsiZFdfJ4AOXqoGACQ&ved=0CC4Q8gEwAA&ref=bklyner.com)*