Sell Your Property in Coney Island
We Buy Development Sites, Mixed-Use, Multifamily & Homes in Coney Island
From Mermaid Avenue storefronts to frame houses in the West End and underbuilt lots near Surf Avenue, Red Hook Development buys Coney Island property directly — as-is, off-market and confidentially.
- All-cash, as-is — flood damage, tenants and violations welcome
- Development sites, mixed-use, walk-ups and houses
- Confidential process with no public listing
- A clear written offer; we respond within one business day
Get Your Coney Island Offer
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Quick Answers
Who Buys Property in Coney Island?
Who buys property in Coney Island, Brooklyn?
Red Hook Development buys property in Coney Island directly from owners. We buy development sites and vacant lots, mixed-use buildings on Mermaid Avenue, Surf Avenue and Neptune Avenue, walk-up apartment buildings, one- to three-family frame and brick houses on the West End’s numbered streets, and commercial parcels. We buy as-is, usually all-cash, without a listing or showings.
Coney Island owners call us for many reasons: flood damage from Hurricane Sandy that was never fully repaired, buildings with long-term tenants, lots that have sat idle for years, or estates that need to be settled. We review the property and give you a written offer.
Who buys development sites and vacant lots in Coney Island?
We do. The 2009 Coney Island rezoning created the Special Coney Island District and opened large areas to new residential and commercial development, while protecting the core amusement area. Since then, new apartment buildings have risen along Surf Avenue and nearby blocks. We buy lots, parking areas, garages and underbuilt parcels, and we handle the zoning, flood and feasibility analysis ourselves. See what we buy.
What is my Coney Island property worth?
It depends on whether the lot falls within the Special Coney Island District and which subdistrict applies, the base zoning, lot size, flood-zone status, current use and tenancy, and building condition. A small frame house on a wide lot might be worth more as land, while a fully leased mixed-use building may be valued mainly on income. We underwrite both and send you a written offer.
Can I sell a Coney Island building with tenants or rent-stabilized units?
Yes. We buy occupied walk-ups, mixed-use buildings and multi-family houses, including those with rent-stabilized apartments. We review registrations and leases, take over tenancies at closing, and do not require vacancies. Our rent-stabilized building page has more on how we approach regulated buildings.
Do you buy flood-damaged houses in Coney Island?
Yes. Hurricane Sandy flooded much of Coney Island in 2012, and some homes and buildings still have unfinished repairs, relocated systems, open permits or post-storm program conditions. We buy those properties as-is, account for flood regulations and insurance in our price, and handle the remaining work after closing. You do not need to finish repairs or obtain a new elevation certificate.
What We Buy in Coney Island
Coney Island Properties We’re Actively Buying
Development Sites & Vacant Lots
Coney Island has more redevelopment potential than most of southern Brooklyn thanks to the 2009 rezoning. We buy vacant lots, parking lots, garages and one-story commercial buildings, and we analyze special district rules, flood regulations and City of Yes options ourselves before making an offer.
Mixed-Use on Mermaid & Surf Avenues
Storefront buildings with apartments above line Mermaid Avenue, Surf Avenue and Neptune Avenue. We buy them with existing retail tenants, vacant stores or legacy leases, and we price facade, sidewalk and flood-related issues into a clear, all-cash offer.
Walk-Up Apartment Buildings
Small and mid-size walk-ups, often with rent-stabilized units, are scattered through the West End and near the avenues. We buy them occupied and as-is, review registrations and leases, and account for deferred maintenance and violations without asking you to fix them first.
One- to Three-Family Houses
Frame and brick houses on the numbered West streets, some dating back many decades, are a steady part of what we buy. Owner-occupied, rented, vacant or inherited, we make one written as-is offer and close without financing risk.
Storm-Affected Properties
Properties that flooded in 2012 and still have unfinished repairs, open permits or insurance complications are welcome. We understand post-Sandy rebuilding requirements and factor them into the price so you can sell without completing the work.
Commercial & Auto Parcels
Auto repair shops, warehouses, storage yards and one-story retail buildings near Neptune Avenue, Stillwell Avenue and Coney Island Creek can hold significant land value. We buy with or without existing tenants and evaluate environmental and zoning issues ourselves.
Neighborhood
Coney Island Beyond the Boardwalk
Coney Island is famous for its amusement district, the landmark Cyclone roller coaster, the Wonder Wheel, the Parachute Jump, Luna Park, the New York Aquarium and Maimonides Park. But most of the neighborhood is residential, stretching west from Ocean Parkway and Brighton Beach toward the gates of Sea Gate, and north to Coney Island Creek and the Gravesend border.
The housing stock is varied: large public and middle-income housing developments, walk-up apartment buildings, mixed-use buildings on Mermaid Avenue and Surf Avenue, frame and brick one- to three-family houses on the West End’s numbered streets, and a growing number of new apartment buildings developed since the 2009 rezoning. Interspersed among them are vacant lots, parking areas and low-rise commercial buildings that are natural redevelopment candidates.
Zoning
The 2009 Rezoning & the Special Coney Island District
In 2009 the city adopted a comprehensive Coney Island rezoning that created the Special Coney Island District. The plan protected and expanded an outdoor amusement area along the boardwalk, while mapping new residential and commercial districts on surrounding blocks to encourage housing, retail and hotels. The district is divided into subareas with their own height, use and design rules, and Mermaid Avenue received zoning to support ground-floor retail with housing above.
The City of Yes for Housing Opportunity amendment, adopted in December 2024, layered additional citywide changes on top, including a Universal Affordability Preference that allows extra floor area for affordable housing in medium- and higher-density districts.
Flood rules are equally important. Much of Coney Island is in FEMA flood hazard areas, and the city’s flood-resilience zoning affects how buildings are measured and designed. We analyze special district, base zoning and flood regulations for every lot before making an offer.
Rent Regulation
Rent-Stabilized & 421-a Buildings in Coney Island
Many older Coney Island walk-ups and mixed-use buildings include rent-stabilized apartments. Since the 2019 rent laws, owners have had few tools to raise regulated rents or recover renovation costs, while insurance and repair costs, especially in flood zones, have climbed.
We buy stabilized buildings occupied and as-is. We review DHCR registrations, lease histories and building conditions ourselves. Visit our sell a rent-stabilized building page for more.
A number of the newer buildings developed in Coney Island since the rezoning used 421-a benefits. The 421-a program expired for new projects in 2022 and was succeeded by 485-x in 2024, but existing 421-a buildings retain their affordability and registration obligations for the benefit period. See our 421-a building page, and review your obligations with an attorney.
Where We Buy
Streets & Sub-Areas We Focus On
We buy throughout Coney Island:
- Surf Avenue — the main corridor along the amusement district and the focus of new development
- Mermaid Avenue — the neighborhood’s main shopping street, lined with mixed-use buildings
- Neptune Avenue — commercial, automotive and residential parcels on the north side
- Stillwell Avenue — anchored by the Coney Island–Stillwell Avenue terminal for the D, F, N and Q trains
- The West End, West 20s and West 30s — frame and brick houses and small walk-ups
- Near Coney Island Creek — industrial and commercial parcels
With four subway lines terminating at Stillwell Avenue and additional service at West 8th Street, plus the Belt Parkway, Coney Island is better connected than many people realize, which supports demand for new housing.
Why Owners Sell
Common Reasons Coney Island Owners Sell
- A lot or garage that has sat underused for years
- A house that flooded in 2012 and was never fully restored
- Rising flood insurance and maintenance costs
- A walk-up or mixed-use building with stabilized tenants and deferred repairs
- An estate that needs to be divided among heirs
- An owner who wants to capture development value without building
A direct sale gives you one buyer, one written offer and no repairs, showings or financing contingencies.
Potential
What Your Coney Island Site Could Become
Because of the 2009 rezoning, many Coney Island lots allow buildings much larger than what stands on them today. A one-story commercial building on Mermaid Avenue might become apartments over retail. A row of frame houses near Surf Avenue could, in combination with neighboring lots, support a larger residential building. Some sites, meanwhile, are better suited to renovation than redevelopment.
Feasibility depends on subdistrict rules, flood-resilient design, construction costs and, for some sites, environmental conditions. We do that analysis ourselves so you can sell with confidence and without taking on architects, filings or construction risk.
Assemblages
Selling Lots Together: Assemblages in Coney Island
Many of the most valuable opportunities in Coney Island come from combining neighboring properties. A single 20-foot lot with a frame house may be limited in what it can support, but two or three adjacent lots together can allow a more efficient building with a better layout, elevator service, flood-resilient ground floors and the floor area that the rezoning intended.
If you and your neighbors are each considering a sale, it can make sense to talk to us at the same time. We can review the properties as a group, explain how the combined site might be used, and make separate offers to each owner so that everyone keeps control of their own decision and their own attorney. If only one owner is ready, that is fine too; we are glad to buy individual lots and houses on their own.
Owners who already hold several contiguous parcels, such as a family that owns a house, a garage and a vacant lot side by side, are often in the strongest position of all. We can buy the full assemblage in one transaction and coordinate a single closing, which simplifies the process considerably.
Your Options
Selling to a Developer vs. Listing vs. Building Yourself
Listing with a broker can work for a renovated house or a stabilized, fully leased building, but development sites and flood-affected properties often face a narrower buyer pool and lender hurdles. Developing yourself can unlock value but demands capital, design expertise, and patience with approvals and construction.
Selling directly to Red Hook Development makes sense when a property is occupied, needs significant work, sits in a flood zone or is valued mainly as land. We buy as-is, typically all-cash, without financing contingencies, and we can typically close on your timeline. Review your options with your attorney and tax advisor; start on our sell your property page.
Process
How Our Process Works
- Contact us — share the address and basic details; we respond within one business day
- Review — special district zoning, flood status, records, leases and condition
- Written offer — clear as-is terms, typically all-cash
- Close on your timeline — attorneys handle the contract and title
No listings, signs or showings, and tenants remain in place. Our review stays confidential until you decide to proceed.
Market
Coney Island in Context
More than fifteen years after its rezoning, Coney Island continues to change. New apartment buildings and amusement attractions have arrived, while many older buildings, houses and lots remain much as they were. The result is a neighborhood with real upside and real complexity: special district rules, flood risk and a wide range of property conditions.
We focus on your specific property, not broad averages. If you own property nearby in Bath Beach, Gravesend or Manhattan Beach, we can review it at the same time.
Micro-Neighborhoods
West Brighton
Before the whole peninsula took on the name Coney Island, the amusement district had a name of its own: West Brighton.
West Brighton
In the late 1800s, West Brighton was the stretch of Coney Island west of the Brighton Beach resort hotels, centered on what became Surf Avenue around West 5th through West 16th Streets. It grew with railroad terminals, beer gardens and hotels in the 1870s, then the Switchback Railway, Steeplechase Park, Luna Park and Dreamland around the turn of the century. By the early 1900s, the name Coney Island had come to mean this amusement area, and West Brighton mostly fell out of everyday use, though it still appears in place names and city records. Today it is the blocks around the Wonder Wheel, the Cyclone, the boardwalk, Maimonides Park and the Stillwell Avenue terminal for the D, F, N and Q.
The housing just north of the amusements, along Mermaid Avenue and Neptune Avenue, mixes older two- and three-family frame houses, small mixed-use buildings, newer multifamily construction and large NYCHA and Mitchell-Lama developments. The 2009 Coney Island rezoning reshaped land use around the amusement core and brought new residential towers to parts of the area. Many properties took heavy flood damage in Hurricane Sandy in 2012 and still carry flood insurance and resiliency issues. We buy West Brighton houses, mixed-use buildings and lots all-cash and as-is, including storm-damaged properties, buildings with violations and inherited homes. Confirm flood zone and zoning details with a professional. See also Brighton Beach and Sea Gate.
FAQ
Coney Island Seller Questions
Is my Coney Island lot inside the Special Coney Island District?
Many lots south of Neptune Avenue and around the amusement area and Mermaid Avenue fall within the special district, but boundaries are specific. We check the official zoning map for your lot as part of our review and explain what it means for value.
Do I need to fix flood damage before selling?
No. We buy as-is, including properties with unfinished storm repairs, relocated systems or open permits. Flood regulations and insurance are factored into our offer.
How fast can you close on a Coney Island property?
We can typically close on your timeline. Because we usually buy all-cash with no financing contingency, timing depends mainly on title work and the attorneys.
Will tenants or neighbors find out I am selling?
Not from us. We do not list properties, post signs or hold open houses, and any visit is arranged discreetly.
Do you buy commercial properties with environmental questions?
We review commercial and industrial sites, including auto uses, case by case. Environmental conditions affect value and timing, and we will explain how we approach them. Your attorney should advise you on any legal responsibilities.
Can you buy several adjacent Coney Island lots together?
Yes. Assemblages of neighboring lots can unlock more development potential. We can buy one lot on its own or review multiple properties together, including lots owned by different neighbors who are all considering a sale.
Other Neighborhoods
We Also Buy Nearby
Red Hook Development also buys property in the neighborhoods surrounding Coney Island.
Own Property in Coney Island?
Find out what a developer will pay — privately, with no obligation. Call 718-500-3423 or email bklyn@redhookdevelopment.com.