Coney Island Avenue Retail Property Sells For $5.425 Million

A 7,200-square-foot retail property, currently home to a Chase Bank and cellphone repair store, has sold to new owners for $5.425 million.

The property sits at 2500 Coney Island Avenue, on the corner of Avenue V. It’s a two-story building with a 12,000 square foot parking lot.

The owners could choose to redevelop the site, building taller while staying within zoning laws, but the Observer, which reported on the deal, notes that it is “unlikely.”

The new owner is Francman Realty LLC, a New Jersey-based company.