3528 Mermaid Avenue

Owner: Spencer Equity Group

Debt: March 24, 2025, $48.4 million

Built: 1979

SF: 229,865

Dwelling units: 259

No. of buildings: 2

Class: Semi-Fireproof With Stores (D7)

Floors: 20

Transactions:

• Spencer Equity Group and NYC Housing Partnership borrowed $48.4 million from Berkadia Commercial Mortgage for 3528 Mermaid Avenue, Coney Island, Brooklyn on March 24, 2025.

• Spencer Equity Group borrowed $47.4 million from Santander Bank for 2911 West 36th Street, Brooklyn, Brooklyn on December 09, 2019.

Development:

• Gagandeep Singh filed plans for alteration in Coney Island, Brooklyn, on August 29, 2019.

• Cooper Winston filed plans for A3 in Coney Island, Brooklyn, on May 13, 2004.

• Cooper Winston filed plans for alteration in Coney Island, Brooklyn, on January 13, 2003.

• James Huang filed plans for alteration in Coney Island, Brooklyn, on June 03, 2013.

• Mohammed Islam filed plans for A3 in Coney Island, Brooklyn, on July 30, 2019.

Violations:

According to city public data, the properties have received seven housing violations in the last year.

Latest Stories:

• Joel Gluck’s Spencer Equity Group and NYC Housing Partnership borrows $47M from Santander Bank for property in Coney Island (December 10, 2019)