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Nalcorp and Clipper Equity buy Coney Island parcel for $20M
The transaction covers a 69,530-square-foot site with 247 feet of Boardwalk frontage at 2015 Boardwalk West.
Nalcorp and Clipper Equity have acquired a land parcel at 2015 Boardwalk West in Coney Island, Brooklyn, paying $20 million to seller Bath Site LLC, according to Commercial Observer. TerraCRG brokered the deal.
The property is a parking lot site spanning 69,530 square feet and offering 247 feet of Boardwalk frontage. Permits were filed in 2024 to build a 23-story, 202-unit mixed-use building at the address.
Commercial Observer also reported that the larger development parcel was originally purchased in 2006 by the City Investment Fund, a real estate private equity vehicle launched by the Fisher Brothers and Morgan Stanley, for $90 million. After the 2006 sale, the land was subdivided into six tax lots, including Block 7072, Lot 6, which is the most recent transaction.
Bath Site LLC acquired the specific property in July 2024 for $10.4 million, and TerraCRG’s Dan Marks and Daniel Lebor represented Bath Site LLC. The buyers did not disclose the names of the brokers representing them, and the article said the parties did not immediately provide further comment.