The Real Deal New York

Rubin Schron to build massive 40-story Coney Island project

Permits show plans for 700K square feet, 544-unit project at 542 Neptune Ave.

January 16, 2015 02:07PM
By Tess Hofmann

Rubin Schron

Rubin Schron

Rubin Schron’s Cammeby’s International filed plans with the city today for a 40-story, 544-unit mixed-use building on Coney Island.

The building, located at 532 Neptune Avenue, will span 691,405 square feet, including 513,850 square feet of residential space and another 162,220 square feet of commercial space. 

Ground floor retail will face West 6th Street and Neptune Avenue to West 5th Street. Amenities for the new building include a fitness center, spa, game room, as well as additional recreation space on the 40th floor. SLCE is the architect of record.

Cammeby’s purchased the property for $25 million in 2013. The developer owns roughly 15,000 units across the city. President Rubin Schron made a $2 billion offer to buy the Empire State Building in 2013.

A representative from Cammeby’s declined to comment.

  • Bruce in Coney Island

    no mention of the misery that he will inflict on the existing community doing this. No mention of all the businesses, doctors, and medical services that will move out of the community or just go out of business in order to clear the land to build this tower, twice the height of existing buildings. No mention how the elderly of the community will now have to commute to visit doctors or obtain vital medical services because there will be none in walking distance. No mention how 2 banks, 2 drugstores will be closed. No mention how traffic of all the new residents will clog the streets. No mention if the local school system will be able to handle all the new students.
    Of course his representatives refused to comment. How will they respond when this will permanently harm the existing residents quality of life. Bad PR to say.. we don’t care.

    • If you don’t like city living, there’s a whole globe you can move to and inflict your misery upon

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