Rybak Development receives TCO for 128K sf Coney Island tower, nearly 17 years after original plans

Sergey Rybak’s Rybak Development, on December 18, was issued a temporary certificate of occupancy for construction of a 115-unit, 128,022-square-foot mixed-use building, known as Seabreeze Tower, at 271 Sea Breeze Avenue in Coney Island, Brooklyn.

The plans were pre-filed on January 5, 2004 by a previous developer. The plans call for the construction of a 220-foot tall, 20-story mixed-use building.

According to reports, American Development Group purchased the assemblage and planned to construct a 27-story condominium building at the site in 2004. Those plans were ultimately halted, and in 2013, Chaim Miller bought the site for $12.7 million and plans were announced to build an $87 million tower. However, after the developer defaulted on its loans, Sergey Rybak purchased the defaulted debt before then acquiring the site for $13.5 million on June 7, 2017.

The project is described in the filings as: filing for a new building. Building to be residential class A units over community facility.

The building’s ground floor has community and residential lobbies and three retail spaces, per the plans. The second floor has community space, a laundry room, and two commercial office spaces. Floors three and four will be used for community space in the form of a school and health facility. The fifth floor has one dwelling unit, floors six through 17 each have eight dwelling units per floor, and floors 18 through 20 each have six dwelling units per floor.

The property was acquired for $13.5 million on June 7, 2017.

Direct link to Acris document. LINK

Direct link to DOB document. LINK

Direct link to C of O document.LINK