Friday, February 15, 2008

Gristedes CEO Purchases 'Ocean Dreams' Site

Brownstoner reports that John Catsimatidis's Red Apple Group has purchased the land on which Brad Zackson and David Weisz had been planning to build their luxury condo complex, 'Ocean Dreams.'

According to
The Real Deal, Ocean Dreams was supposed to have begun construction last year, and would consist of three six-story glass buildings, complete with concierge, doorman service, and van service to the subway.

The last feature highlights why a development like Ocean Dream would devastating to the Coney Island community. Creating a situation in which wealthy residents commute directly to their luxury condos without ever setting foot in the neighborhood would create a complete polarization between the area's new high-income residents, and the area's existing low to middle income residents. A community with such deep divides is not really a community, in any meaningful sense of the word.

We'll have to wait and see if Castimatidis has simply taken control the problematic Ocean Dreams project, or if he has other plans for the property.

Big Coney Development Site Trades Hands [Brownstoner]
New Residential Developments [The Real Deal]
Ocean Dreams [Curbed]

- post by Ben Nadler

1 comment:

Anonymous said...

I would welcome such development next to Sea Gate. It would only improve the area and make it safer from thugs that hang out on the corners. Coney Island needs changes