- Overview
- Description
- Property Details
- Location
- Facts & Features
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No HOA
Street View
$6,500,000
Monthly Est:$32,353
45 Beds
16 Baths16 full baths
15,986sqft
1613 Mermaid Ave, Brooklyn, NY 11224
$6,500,000
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Mixed Use
Built in 2020
$-- HOA
-- sqft lot
$407/sq.ft
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.
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- Houzeo last checked: 37 minutes ago
- Listing updated: November 1, 2026 at 4:01 am
- Listing Provided by: Sarah Sawyer (917) 854-1898 , Philip Morelli (917) 843-3121 | Compass (212) 913-9058
- Source: Rebny MLS-NY | MLS#: RLS20092735
Property Details
Status
Active
Type
Single Family Residence
No. of Stories
7
County
City
Neighborhood
Year Built
2020
HOA Fees
-
Finished Area
15,986 sqft
Lot Size
-- sqft lot
Basement Area
- sqft
MLS Name
Rebny MLS
MLS Number
RLS20092735
Days on Market
166
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 45
Bathrooms: 16
Interior
Exterior Features
Private Outdoor Space Over60sqft
Utilities & Energy
Laundry Features
Common On Floor, Laundry Room, See Remarks
Other Features
Subdivision Name
Coney Island
Price History
| Date | Event | Price |
|---|---|---|
07/10/2026 Source: | Off Market | $3,000 -99.95% $0/sqft |
05/21/2026 Source: | Listed for Sale | $6,500,000 $407/sqft |
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The real estate listing data marked with this icon comes from the IDX program of the RLS at REBNY Listing Service (RLS). Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS") through Nov 04, 2026, 12:45PM. Information deemed reliable but not guaranteed. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Buyer to verify all information. © 2026 The Real Estate Board of New York, Inc. All rights reserved.
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