New development spurs Coney Island’s transformation into ‘live, work, play’ neighborhood

Coney Island is not all fun and games.

While still known for its famed boardwalk brimming with amusements and entertainment attractions, today’s Coney Island is evolving into a ‘live, work, play’ community, as evidenced by new commercial and residential developments that are infusing vitality into the neighborhood.

Among the most notable new developments contributing this positive transformation is Neptune/Sixth, a community-oriented, mixed-use development positioned as a hub of transportation, shopping, restaurants, residences and services for the Coney Island community. Currently under development, Neptune/Sixth’s first phase – a seven-story office and retail building with parking at 626 Sheepshead Bay Road – is preparing to begin welcoming tenants by the end of this year, with neighborhood department store DII serving as the building’s anchor tenant. Construction on the development’s second phase – a retail and commercial development along 532 Neptune Avenue that will eventually adjoin with a new iconic 42-story residential tower – has also recently started.

The quick pace at which Neptune/Sixth’s office and retail space has attracted tenants demonstrates the pent-up demand for modern commercial space options in Coney Island, where limited new construction has been delivered to the market over the past several decades; in addition to DII, regional grocery chain NetCost, Capital One, CVS Pharmacy and Apple Bank have all signed leases to occupy space within Neptune/Sixth.

Beyond capitalizing on this market demand, Neptune/Sixth also reflects the growing trend in smart urban planning toward mixed-use developments that combine residential, retail and commercial spaces, and provide seamless access to the surrounding neighborhood. Outdoor landscaping and new seating areas will create connectivity between Neptune/Sixth’s buildings and contribute to the improved pedestrian experience afforded by this new neighborhood destination, designed by New York City-based S9 Architecture.

The long-awaited revival of Coney Island is well underway, and new developments like Neptune/Sixth are leading the charge. For information about commercial leasing opportunities at Neptune/Sixth, contact The Lawrence Group at 646-844-4208. For more information about Neptune/Sixth, visit www.neptunesixth.com.

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