Coney Island Boardwalk site for sale.

GVA Williams announced that is has been named as the exclusive sales agent for a 20,006 s/f development site in Coney Island.

The properties address is 1105, 1205 and 1207 Bowery, in the heart of the Coney Island redevelopment corridor.

The offered properties are zoned C-7 Commercial with a 2.0 FAR, allowing 40,012 s/f of commercial space to be built on the site. Seasonal operators are currently leasing the properties, which provide stable, solid cash flow with minimal management.

James Murphy, Executive Managing Director, and Burke Fathy, Associate, of GVA Williams will handle the sale. "This unique opportunity offers high-level appreciation and development potential while providing substantial cash flow," said Murphy. "There has been considerable interest in the development of Coney Island, and we expect that these properties will garner significant attention from interested buyers."

The Coney Island Development Corporation is conducting a zoning and urban design study that is likely to recommend the widespread up-zoning of the entire area, thus dramatically increasing the buildable potential for the properties. Additionally, the development site is directly adjacent to an extensive mixed-use project, "The Boardwalk at Coney Island", a year-round retail, entertainment and residential destination.