Southern Brooklyn

Rybak Condo Development On Emmons Avenue Scheduled For Completion In Fall Of 2017

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Rybak Development, the company that demolished the El Greco Diner to make way for a seven-story condominium building, says it hopes the development will be completed in the Fall of 2017 and has released a new video showing what the swanky structure will look like along the Sheepshead Bay waterfront.

Rybak purchased the Emmons Avenue property in 2014 for $13 million and quickly won approval for the project from the community board.

The developer is pulling out all the stops in offering amenities and features for the new building, now called The Vue,  located at 1809 Emmons Avenue. The company boasts that it will be the first Leadership in Energy & Environmental Design (LEED) certified building in southern Brooklyn.

“The LEED guidelines far exceed the New York City required building code.” said Sergey Rybak, owner of the company. “We feel that it is important to bring that standard to South Brooklyn.”

In order to obtain the certification, Rybak Development must use recyclable building materials, energy efficient lighting, and special insulation. Units will also have superior air circulation and noise mitigating windows.

Other amenities include a rooftop pool on a shared deck and a doorman. There will also be a 9,000-square-foot public plaza and approximately 85 parking spaces for tenants and patrons of the businesses on the ground floor. The building is designed to house nine retail spaces, six of which are equipped for restaurants, inside 26,000 square feet of space. Local zoning laws only allow for recreational businesses to lease on the property.

“We have a number of new, very hip and cool parties that are interested in bringing tested food content to the area,” said Rybak, who declined to name who is interested in leasing space at the Emmons Avenue property. “There is a coffee shop that is going to roast its own beans that is interested in one of the retail spaces.”

Preliminary rendering of the proposed plaza at 1801 Emmons Avenue. (Source: Sergey Rybak)
Rendering of the proposed plaza at 1801 Emmons Avenue. (Source: Sergey Rybak)

The company is still awaiting approval from the Attorney General’s office to market its units as condominiums, Rybak said, but the buyer hopes to have more information about unit size, interiors, and features by the beginning of June. (Rybak has put up a dramatic countdown clock on their website to show when they expect to release this information.)

Rybak owns several other properties, almost all of which are located in southern Brooklyn. Another seven-story condo building being built in on West End Avenue in Manhattan Beach, dubbed The Wave, began selling units in May for as much as $1.6 million. Rybak was also behind the nine-story condominium building on Ocean Avenue, which sold out in less than three months.

Rybak is also one of the investors behind the 140,000-square-foot sports complex, MatchPoint NYC, that replaced the shuttered Brooklyn Racquet Club.

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20 COMMENTS

  1. There’s an exodus of Russians from Sheepshead Bay. EVERYONE I know is moving – to NJ, to LI, to Florida. Anywhere but stay in Sheepshead Bay. It’s a dump now. Rybak will have a hard time selling these – as only an idiot will invest the money in Sheepshead Bay now.

  2. Miss K., you may be on to something, but….I remember that the same things were said when MUSS was building ‘Brighton by the Sea’. Many pundits and wags predicted that the vacancy rate would be double digit. In sum, I won’t bet against developers and Sheepshead Bay.

  3. I do agree with you about the Russian exodus, but the reasons they are leaving is due to a combination of high prices and lack of good housing. You should check out prices in rest of the city, i.e. Brooklyn and Manhattan they went up again in the past few years, and unfortunately the prices went up a lot due to demand. From what I know this is going to be the first building in S-bay, with decent amenities and a doorman. The rest of the housing stock is old coops, and condos lacking decent amenities. Its actually a rather unique product, for the right buyer. There are apartments in the city that sell for double the price, then other building right next to them.

  4. Wrong! Looks like u didn’t read the above. His condos in worse location sold out in 3 months, doubt he will have issue selling these units. In fact they will be even more expensive, so people with $ will scoop them up before you know it! Most likely for around $850-1000 per square foot.

  5. I used to live on Sheepshead Bay and moved to Florida a year ago. It was the best decision of my life!!! We have an ocean front penthouse for a fraction of what it would cost us in Brooklyn.

  6. Unless you are in the medical or law field or retired, I
    don’t see how you can live in Florida and earn a decent salary. A lot of people
    do not like NYC, but bottom line is this where the jobs are. I have been to
    Florida and of course it has a better quality of life and I might move there one
    day..when I retire.

  7. I agree, most of the people I know move because they can’t afford to buy anything decent here. But def not because you can’t sell or its a bad investment. As a matter fact Manhattan/Brooklyn are far better investments than LI, NJ and Florida. Mr. Rybak will have no issues selling believe me, his other properties 104 West End and 3041 Ocean are sold out and quickly. Where in NJ or LI will your real estate be selling out like that at high prices I must add?

  8. I had lived in Brooklyn for 20 years before moving to Long Island , 14 of them in Sh.Bay and I still follow the Sh. Bay real estate market and comment on the Bites real estate house and apartment weekly column, most of the time, accurately, so here are my thoughts;
    1. Totally agree with Baron Land. When Muss first broke the ground on Oceana advertising apartments from 250K to 1mln, my initial thought was-who would buy in this dump and then the apartments flew off the market like hot cakes. I know several people who bought there and they could afford Manhattan and Westchester, yet, they chose to live close to their grandmas and grandpas, the amount of family support that the community that immigrated from the former Soviet Union is paramount, I am not talking about money, most are well-off and contrary to the popular opinion, the money is not earned through Medicaid fraud, rather, it’s an educated crowd from top universities, law and medical schools, working in white show law firms, hospital and hedge funds. Yet, there is nothing like coming home to Mom’s house for some homemade food and more importantly, there is nothing like grandparents watching your kids while you work. So while many do move to suburbs, many choose to stay put in Brooklyn and pay for private schools or tutors to get their kids into good middle and public schools.
    2. This particular development is in the very prime spot-right on the canal, with an easy access to the subway, the shopping and the restaurants. It’s modern and will have amenities that are lacking in most of South Brooklyn buildings, in fact, one of the reasons why people buy condos and townhouses (elsewhere where space is not an issue) is to have access to the amenities that they won’t be able to afford otherwise-tennis court, gym, pool, playground, in other states, these are all common items in the developments, not so in NYC, but recently, many Manhattan buildings started adding some of the amenities and the buyers are willing to pay a certain premium. Just read NY Times real estate section which is abound with articles describing young parents who are thrilled with a playroom in their building as it’s a savior on a rainy day, or singles who praise their building’s gym and club lounge as it’s conducive to meeting other people.
    3. And finally, after all the rambling, my prediction-this is going to sell like hot cakes. There are still quite a few young families in South Brooklyn with untapped financial resources. They don’t want to leave Brooklyn, they also don’t want to move to Mill Basin as the commute to the city is equivalent to the suburban commute, and they have not yet found a property that they think is worthy of their money because as Roman mentioned, the housing stock until 10-15 years ago was mostly old co-ops with a few bare bones condos. Leaving vs. staying is a very personal decision. 25 years ago if someone told me that houses in Bed Stuy will be selling for over 1 mln, I would think this person was on drugs. Now, Bed Stuy is hot, and there are talks about East NY being the next frontier. I am very happy to live where I am now, yet, I don’t trash Sh.Bay and Brooklyn in general. My personal reasons were that I could not at the time afford to buy a decent house to fit my family of 5 people and I did not want to deal with the middle/high school process, yet, I have friends who stayed put, brought houses/condos, went through the process and they are happy and I can’t say “I will never return to Brooklyn”, maybe I will once the kids are out of the house. For now, we are happy with the space, more greenery, good schools, but honestly, once it’s just the two of us, I could totally see us moving back to Brooklyn, buying 1-2 bedroom apartment in a location such as this. I really miss the canal, there is nothing like it where I am, the first time we stepped on the Long Beach Boardwalk, the kids were like “Where do we eat?”. We used to take long walks in the summer, since the kids were days old, meet friends, sit down for dinner, go for dessert, now, we get home from work, and maybe walk dog around the block. Sure, it’s nice to have a backyard, I don’t have to walk or drive to the park, and sure, it’s nice to have bedrooms for each kid and plenty of common space, but 15 years ago when I was younger, just with one kids, I don’t think I could have survived the suburbs.

  9. Agree =)
    I love this place even if it is not a hot neighborhood or in the city. Commuting from NJ or DC, Sheepshead Bay is very strategically located by passing thru Staten Island. Taking an international flight? JFK is less than half hour away. Drive to the city? Belt parkway is just a few turns to get into, unlike middle of Brooklyn you have to navigate thru so many stop signs and lights. Fishing boats are right in front of my house, I can wake up ten minutes before departure. So many ethic groceries and eateries with wide price range and palates.

    The sense of community is strong here. Living with or near family is always the best choice for everyone, adults of kids alike. And, water front properties never go out of vogue =)

  10. There will always be people looking to buy in Brooklyn. Brooklyn and NYC in general is a very hot market right now. And for everyone moving out there is going to be more people looking to move in

  11. I tried moving to Miami, but the best job I could find paid about half of what I get here. After a few months living in Miami, I understood that most people living well in Sunny Isles area of Miami, did not work in Miami, and made their money in NY or elsewhere. The cost of living in Miami is high, and frankly I did not want to live further inland, what’s the point?

  12. Get a good Russian women to work and pay your way. I used to own RussianNY.com and now I am haopy to have working, loving wife, who lavishes me with the money she earns. I only wish that her employer would give her a promotion or two, because we have kids. Bring some noise that our Russian women are not being promoted!!!!

  13. Judging from the looks of the guy staring back at me in the mirror and my laid-back personality, that option is not really available to me:) Aside from commuting, I really don’t mind working.

  14. who needs a job when you have something called INTERNET nowdays? just start online biz and make 100K/m online and anywhere in the world. Prague is very nice or even Singapore has best food period 🙂

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