REAL ESTATE

139 beachfront apartments available in Coney Island, from $1,640/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

About a block from the Atlantic Ocean and the world-famous Riegelmann Boardwalk, a new Coney Island rental has opened a lottery for 139 mixed-income apartments. Located at 1515 Surf Avenue, the 16-story development is the city’s first multi-family geothermal project, meaning it uses the Earth to heat and cool the building instead of fossil fuels. New Yorkers earning 80 and 130 percent of the area median income, or between $60,069 for a single person and $198,250 for a household of five, can apply for the apartments, ranging from $1,640/month one-bedrooms to $3,013/month two-bedrooms.

Image courtesy of LCOR

Developed by LCOR and STUDIO V Architecture, the 16-story building features a geothermal system that uses the Earth’s heat to cool the property and power its water systems, eliminating the need for equipment that runs on fossil fuels.

Amenities include an outdoor pool with incredible views of the Coney Island beach and boardwalk, a fitness center, a landscaped courtyard, an indoor basketball and handball court, a children’s playroom, a game room, co-working spaces, bike storage lockers, multiple lounges, and on-site parking.

Residents will have easy access to the beach, the historic Riegelmann boardwalk, and the neighborhood’s famous amusement district.

Image courtesy of LCOR

LCOR filed plans for the project in December 2020. The building is located on the grounds of renowned Coney Island restaurant Gargiulo’s parking lot. Louis Russo, the owner of Gargiulo’s agreed to a 99-year ground lease for the space in early 2020.

The developer worked with Ecosave USA to design and install the geothermal system, which is projected to reduce the building’s carbon emissions by more than 60 percent. The system features wells installed deep underground that use the Earth’s ambient temperature to heat and cool liquids, according to a press release.

That energy is then directed throughout the building through pipes and pumps, and uses excess heat as an additional energy source that is then used to heat the building’s pool and water.

1515 Surf Avenue will have the city’s largest active geothermal system in the city’s history until Greenpoint’s 1 Java Street is completed in 2025. Developed by Lendlease and designed by Marvel, 1 Java Street includes more than 830 rental units across five buildings. The project will be the largest all-electric multi-family geothermal project in New York.

Nearby public transit options include the D, F, N, and Q subway lines which are accessible at the Coney Island-Stillwell Avenue station, as well as the B36, B74, and B82 buses.

Qualifying New Yorkers can apply for the apartments until March 20, 2024. Fifty percent of the units are set aside for residents of Brooklyn Community District 13. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

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