USANYBrooklynConey Island1613 Mermaid Ave

1613 Mermaid Ave, Brooklyn, NY

Name: 1613 Mermaid Ave, For Sale in Brooklyn - Zoocasa
Brand: Compass
SKU: RLS20092735
Price: 6500000 USD

House

For Sale

Listed price in listed location currency (USD).

$6,500,000

45160

MLS® RLS20092735

Overview

Key Facts

Type Mixed Use

Levels Residential

Size 15986 sqft

Garage

Taxes $163,332

Days Active 150

Lot Size 0 SF

Approx. Age 2020

Avg. Price Per Sqft $406

MLS® Number RLS20092735

Property Address: 1613 Mermaid Ave, Brooklyn, NY, 11224-2619

Average square foot calculated using Size range provided by listing agent.

Description

1613 Mermaid Avenue presents a rare opportunity to acquire a recently constructed mixed-use investment property in the heart of Coney Island. It is in the middle of the TREMENDOUS $1B investment into the Coney Island waterfront corridor. Located 1 block to Surf Avenue, 2 blocks to Nathan's hot dogs. This is a cash cow trophy property ready for its new owner. Built in 2020, the seven-story elevator building spans approximately 15, 986 square feet and consists of 16 residential apartments, eight parking spaces, and a laundry facility. Ideally located between West 16th and West 17th Streets, the property sits just moments from the iconic Coney Island Boardwalk, beaches, and major transportation lines, positioning it within one of Brooklyn’s most recognizable and evolving waterfront neighborhoods. Current average rents are approximately $2, 805 per apartment, with projected annual residential income of $538, 500, PLUS additional revenue generated from parking and laundry operations. The building’s modern construction, efficient layouts, and strong tenant demand contribute to a compelling investment with long-term upside potential. A major highlight of the offering is the valuable 421A tax exemption, currently in year 8 of 15 and extending through June 30, 2034, creating strong cash-on-cash performance and long-term holding appeal in a rapidly developing submarket. Coney Island continues to experience ongoing public and private investment, blending its historic beachfront attractions with a growing year-round residential community. Residents enjoy immediate access to the beach, Luna Park, the New York Aquarium, Maimonides Park, and multiple retail conveniences, while the nearby Stillwell Avenue transportation hub provides direct subway access to Manhattan. 1613 Mermaid Avenue represents a turnkey Brooklyn multifamily asset combining modern construction, tax advantages, and stable income in one of New York City’s most iconic coastal neighborhoods. Email today for the Offering Memorandum!

MLS® NumberRLS20092735

Laundry LevelCommon On Floor

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age2020

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Map

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