BWH Group signs $17M contract for 99-unit Coney Island dev site

UPDATED 11:49 a.m., September 12, 2025: BWH Group through the entity 2980 Ocean Parkway LLC signed a $17 million contract to purchase a development site at 2980 Ocean Parkway in Coney Island from the Roman Catholic Church of the Guardian Angel in the Borough of Brooklyn, through the signature of Joseph Grimaldi. The parties signed the contract on April 25, 2025.

Alex Vaynshteyn is partnering with developer Daniel Grinshteyn of BWH Group in the project, according to a source familiar with the transaction. Grinshteyn is developing another project in Coney Island, at 1517 Mermaid Avenue.

The contract was disclosed in a court filing that is a New York State requirement for the sale of a substantial asset by a nonprofit or religious group.

Case LINK

An affiliate of the Roman Catholic Diocese of Brooklyn, the Rocklyn Asset Corp., submitted a new building construction project for a 99-unit, 131,610 square-foot residential (R-2) building at 2980 Ocean Parkway in Coney Island, Brooklyn. The plan was filed with the New York City Department of Buildings on August 14, 2025 under job number B01268544. It calls for the construction of a 13-story building. The project is described in the filing as: proposed new mixed-use building with community facility daycare and residential use with 99 dwelling units. The architect is Menzak Architect, P.C.

In addition to the $17 million purchase price Alex Vaynshteyn is to pay, the developer is also to demolish at its own expense, two buildings on the adjacent site, which is 2968 Ocean Parkway. The two buildings to be demolished are a former rectory building and a parish hall. The church will remain.
The closing is scheduled for the later of 30 days after the court issues an approval of the sale or 30 days after the two buildings are demolished, but under no condition before August 25, 2025. The brokerage is identified as Cushman & Wakefield in the contract, but marketing material indicates Cushman and Newmark were both handling the assignment. The agents on the assignment, according to the marketing materials, were Daniel O’Brien, Caroline Hodes, Loren Valla of Newmark and Frank Liantonio of Cushman & Wakefield. O’Brien, Hodes and and Valla were formerly at Cushman then moved to Newmark in 2023.

Violations and lawsuits

According to city public data, the property has received one DOB violation in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Coney Island, The majority, or 68 percent of the 14.4 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 10 percent of the space. In sales, Coney Island has near average sales volume among other neighborhoods with $94.7 million in sales volume in the last two years and is the 36th highest in Brooklyn. For development, Coney Island has near average amount of major developments among other neighborhoods and is the 7th highest in Brooklyn. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 14 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 977,240 square feet of the 977,240 square feet. The two identified owners are Cammeby’S International Group and Nyc Department Of Education. On the tax block, there was one new building construction project filed totaling 131,610 square feet. It is a 99-unit, 131,610 square-foot residential (R-2) building submitted by Robert Dadona with plans filed August 14, 2025 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 2978 Ocean Parkway, PincusCo identified one commercial real estate item of interests occurred over the past 24 months. It was a new building permit application filed on July 8, 2025 for a 20,684-square-foot residential (R-2) building with 26 residential units at 2975 Ocean Parkway.

Clarification: The owner is BWH Group. A prior version of the post said Alex Vaysnsteyn was the owner, but is just a partner.

Direct link to the property’s ACRIS page and link to DOB NOW portal.