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New York

Rybak to build 90K sf condo on El Greco Diner site

Sheepshead Bay project to include ground-floor retail component

From left: Sergey Rybak, Erik Yankelovich and 1821 Emmons Avenue in Brooklyn
From left: Sergey Rybak, Erik Yankelovich and 1821 Emmons Avenue in Brooklyn

Rybak Development & Construction plans to demolish the El Greco Diner in Sheepshead Bay to make way for a 90,000-square-foot residential condominium property.

The new building at 1821 Emmons Avenue would contain a ground-floor retail component, Crain’s reported. The El Greco Diner and its parking lot occupy a full block at 1821 Emmons Avenue, near East 19th Street.

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Rybak, a Brooklyn-based developer, recently paid $13 million to buy the diner from the Venetoklis family, who operated it for more than four decades, according to the publication.

The building hit the market for $15.9 million last year, as The Real Deal reported.

Erik Yankelovich of GFI Realty was hired to secure  construction financing for the project. [Crain’s] — Mark Maurer

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Gfi Capital Resources GroupSheepshead Bay