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Cammeby's Coney Island commercial building nears completion.

Cammeby's announced that 626 Sheepshead Bay Road, a commercial and retail building currently under construction in Coney Island, is now 50 percent leased.

The seven-story, 161,000 s/f building, scheduled for completion in the next few months, is part of Neptune/ Sixth, a new mixed-use destination neighborhood within Coney Island.

Significant leases for 626 Sheepshead Bay Road's office and community space include Hartford Financial Services, a mortgage lender. A real estate development firm and a security consulting firm have also recently taken space at the building.

The building's retail base, anchored by neighborhood department store DII Stores, has only two storefronts left available for lease.

"We are delighted with the leasing success that 626 Sheepshead Bay Road has enjoyed and look forward to welcoming the building's tenants this year," said Jacob Cohen, executive vice president of development at Cammeby's.

"This building is clearly meeting a need for modern commercial and retail space in Coney Island, and we are proud to have been at the forefront of identifying this opportunity and addressing the demand."

In addition to 626 Sheepshead Bay Road, Neptune/ Sixth will also encompass a mixed-use retail and residential building at 532 Neptune Avenue, which is currently under development.

Environmental remediation of the site was recently completed--a significant milestone that paves the way for accelerated progress to be made on vertical construction of the building's retail space.

Last year, Cammeby's announced multiple retail leases for 532 Neptune Avenue, including those with regional supermarket NetCost, Capital One, CVS Pharmacy and Apple Bank.

As a community-oriented development, Neptune/Sixth is set to be home to a diverse mix of both retail shops and service-oriented business, while adding new amenities that the community can use and share, including ample parking.

Designed by New York-based S9 Architecture, Neptune/Sixth is the comprehensive redevelopment 61 the former Trump Village Shopping Center and Royal Palace Baths.

Caption: The seven-story, 161,000 s/f building is part of Neptune/Sixth, a new mixed-use destination neighborhood within Coney Island.

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Comment:Cammeby's Coney Island commercial building nears completion.
Publication:Real Estate Weekly
Date:Mar 21, 2018
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