1613 Mermaid Avenue, Brooklyn, NY 11224
sale
$6,500,000
|
Other
Courtesy Of Compass
1613 Mermaid Avenue presents a rare opportunity to acquire a recently constructed mixed-use investment property in the heart of Coney Island. It is in the middle of the TREMENDOUS $1B investment into the Coney Island waterfront corridor. Located 1 block to Surf Avenue, 2 blocks to Nathan's hot dogs. This is a cash cow trophy property ready for its new owner. Built in 2020, the seven-story elevator building spans approximately 15,986 square feet and consists of 16 residential apartments, eight parking spaces, and a laundry facility. Ideally located between West 16th and West 17th Streets, the property sits just moments from the iconic Coney Island Boardwalk, beaches, and major transportation lines, positioning it within one of Brooklyn s most recognizable and evolving waterfront neighborhoods. Current average rents are approximately $2,805 per apartment, with projected annual residential income of $538,500, PLUS additional revenue generated from parking and laundry operations. The building s modern construction, efficient layouts, and strong tenant demand contribute to a compelling investment with long-term upside potential. A major highlight of the offering is the valuable 421A tax exemption, currently in year 8 of 15 and extending through June 30, 2034, creating strong cash-on-cash performance and long-term holding appeal in a rapidly developing submarket. Coney Island continues to experience ongoing public and private investment, blending its historic beachfront attractions with a growing year-round residential community. Residents enjoy immediate access to the beach, Luna Park, the New York Aquarium, Maimonides Park, and multiple retail conveniences, while the nearby Stillwell Avenue transportation hub provides direct subway access to Manhattan. 1613 Mermaid Avenue represents a turnkey Brooklyn multifamily asset combining modern construction, tax advantages, and stable income in one of New York City s most iconic coastal neighborhoods. Email today for the Offering Memorandum!
Read More About This Property
Read Less About This Property
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Virtual Tour
Property Features
- Architecture Style: Other
- Building Units: 0
- MLSID: 11779824
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- Rooms: Laundry
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$8,400,000
Retail
Brooklyn, NY 11229
Listed By CENTURY 21 Sherlock Homes
sale
$8,300,000
Office
1523 Voorhies Avenue
Brooklyn, NY 11235
Building: 18,858 sq. ft.
|
Land: 0.08 Acres
Courtesy Of Womcore LLC dba Remax Edge
sale
$8,000,000
Other
528 President Street
Brooklyn, NY 11215
Building: 5,063 sq. ft.
|
Land: 0.12 Acres
Courtesy Of Realty First Residential
sale
$7,990,000
Other
822 49th Street
Brooklyn, NY 11220
Building: 1,000 sq. ft.
|
Land: 0.06 Acres
Courtesy Of Bove Real Estate