Benjamin-Beechwood LLC and New York City Department of HPD Hosts Groundbreaking To Mark City's Newest Oceanfront Community.

Business Editors

Groundbreaking of First 32 Two-family Homes Marks

Beginning of Development of 117-Acres of New Neighborhoods

and Community Amenities At Arverne-by-the-Sea

Today, the New York City Department of Housing Preservation and Development and Benjamin-Beechwood LLC hosted a groundbreaking to mark the beginning of New York City's newest oceanfront community, Arverne-by-the-Sea.

Arverne-by-the-Sea will be developed in several phases, and will culminate in a mix of 2,300 residential units including one- and two-family homes, mid-rise apartment buildings including condominiums and rentals; in excess of 200,000 square feet of retail space; a new school, a community center; and 10 acres of park land. The groundbreaking marks the first phase of the development.

The New York City Department of Housing Preservation and Development in partnership with Benjamin-Beechwood LLC is hosting the groundbreaking. Alvin Benjamin, of Benjamin Development, and Leslie A. Lerner of The Beechwood Organization joined Jerilyn Perine, Commissioner, NYC Department of Housing Preservation and Development for the auspicious event.

Mr. Benjamin noted, "We think this is better than New York coming back, this is New York bigger and better than ever. Where else in New York City can you live and enjoy the peace and serenity of oceanfront living. Arverne-by-the-Sea - you have to see it to believe it."

Commissioner Perine said, "Thanks to an effective public private collaboration and the hard and thoughtful work of the Rockaway community, Arverne-by-the-Sea will soon be providing New Yorkers with a safe affordable place to live, work and play in a most spectacular setting."

Phase I pricing on the two-family homes is estimated to start in the low $300,000 range. The concept of Arverne-by-the-Sea draws on the planning and architectural heritage of the borough of Queens with design features that are rooted in the characteristics of the site.

Arverne-by-the-Sea will boast attractive and walkable neighborhoods each with a range of housing types, views of the ocean, easy beach and subway access, and a host of amenities.

"Arverne-by-the-Sea is the largest tract of vacant oceanfront land within the city limits of ANY city in the United States, and I am flattered and honored that HPD has entrusted the development of this new community to both the Beechwood and Benjamin Organizations," noted Mr. Lerner. "We will create a new community that the Rockaways and the City of New York can be proud of."

For more information, please call the sales office at Arverne-by-the-Sea at 718-474-5400.