8-Story Apartment Building To Replace Three Properties On Sheepshead Bay Road

Sheepshead Bay’s rampaging real estate market has delivered another major construction project to the waterfront.

Following a $3.66 million land deal last month, a developer has filed an application to demolish buildings on three properties along Sheepshead Bay Road, near the intersection with Shore Parkway, in order to build an eight story residential building.

The development would take place across the street from the seven-story condo building that will replace El Greco diner.

The new project will be built on top of the vacant lot at the northwest corner of the intersection, as well as the three-story buildings adjacent to it, located at 1782 and 1784 Sheepshead Bay Road. The properties’ new owner Viacheslav Levkov, who runs Starealty Estate, said the building will include commercial space on the first two floors, a community facility, and rented apartments. A parking area that uses lifts to conserve space will also contain 30 parking spaces, he said.

Plans for the building have not been approved by the city. However, Levkov said he hopes demolition will begin within a month and construction will be underway two or three months later.

Jacobs Development Corp is the contractor involved in the project, Levkov said.

The previous owner of the properties, Ralph Marchetta, who held on to them since the 1970s, filed plans last year to build a six-story residential building on the vacant lot. However, his proposal was rejected by the Department of Buildings for being incomplete. Marchetta’s family owned shops in both his storefronts. He said he shut down Beach Haircutting, located on the first floor of 1784 Sheepshead Bay Road, in September after almost four decades in the neighborhood. A clothing store owned by his father, called Leonardo’s Boutique, was in the adjacent property and went out of business several years ago, he said.

Marchetta explained that difficulties getting repairs after Superstorm Sandy as well as a prolonged eviction battle with tenants who refused to pay convinced him to give up on the properties.

“Landlords have no rights in New York,” he said. “I got screwed left and right.”

The developer behind the new project slated to replace Marchetta’s properties is active in the area. According the Starealty Estate website, they operate several condos and rentals throughout southern Brooklyn.