Cammeby’s, Rybak file plans for two towers with 701 units in Coney lsland

The Schron family’s Cammeby’s International Group and Rybak Development submitted a proposal yesterday seeking city approval for two 22-story towers with a total of 701 residential units on land currently owned by Cammeby’s and used as parking lots for existing residential towers in Coney Island, Brooklyn.
The environmental assessment statement for the project 2025K0250, dated March 17, 2026, seeks zoning changes and to establish an Mandatory Inclusionary Housing (MIH) area in order to build the project dubbed the Shorecrest Towers Infill Rezoning, on parcels with the addresses 3030 Ocean Parkway and 400 Neptune Avenue.
The first phase of the expansion involves “Development Site 1,” at 3030 Ocean Parkway, a 215-foot-tall tower containing 344 apartments. In compliance with the city’s MIH program, between 69 and 103 of these units will be set aside as affordable housing. The tower is designed as mixed-use, including roughly 10,700 square feet of ground-floor retail and a five-story parking garage integrated into the base of the building, supplemented by an existing 76-space surface lot that will remain on-site.
The second phase, “Development Site 2,” at 400 Neptune Avenue, mirrors the first in scale. Standing 217 feet tall, this tower will add another 357 apartments, with a similar allotment of 71 to 107 units designated as affordable. Like its counterpart, it will house an internal garage providing nearly 300 parking spaces across the first five floors.

The application on the city’s Department of City Planning website says the towers will be 23 stories, but the documents filed say 22 stories. This new development will not alter the existing 23-story rental towers on the two tax parcels.
The project must now navigate the Uniform Land Use Review Procedure, or ULURP, the rigorous Department of City Planning process that governs major zoning changes in New York City.
Rybak Development and Cammeby’s International Group have partnered before in Brooklyn, including on the 499-unit, 1 million-square-foot Sky Three Residences Club at 532 Neptune Avenue in Coney Island, approximately two blocks west.

Also, the city last year selected Rybak Development to construct a 505-unit project with 30,000 square feet of retail dubbed Tilyou Towers on a city parking lot in Coney Island with an approximate address of 2000 Surf Avenue, between West 21st and West 22nd Streets.

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 $40.1 million in sales volume in the last two years and is the 42nd highest in Brooklyn. For development, Coney Island has near average amount of major developments among other neighborhoods and is the 6th highest in Brooklyn. It had 2.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 18 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 at 2978 Ocean Parkway, job number B01268544, submitted by Jack Ezra Cattan and filed by Robert Dadona with plans filed August 14, 2025 and it has not been permitted yet.

The owner

The PincusCo database currently indicates that Cammeby’S International Group owned at least 132 commercial properties with 16,762 residential units in New York City with 17,349,510 square feet and a city-determined market value of $2.1 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 65 percent of the 17,349,510 square feet of built space are elevator properties, with walkup properties next occupying 22 percent of the space. The bulk, or 54 percent of the built space, is in Queens, with Brooklyn next at 28 percent of the space.

The owners according to the Department of Housing Preservation and Development includes Moshe Altusky, head officer and Aaron Goldfried, agent. The business entity is Trump Village Apts Two Owner Llc.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 3064 Ocean Parkway in the past 24 months.

Direct link to the property’s 3030 Ocean Parkway ACRIS page
Direct link to the property’s 400 Neptune Avenue ACRIS page

and link to DOB NOW portal.