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Rubin Schron’s Coney Island Project Causes Controversy

Rubin Schron 640x360

New York real estate developer Rubin Schron is meeting with some opposition from local Coney Island residents over his plans to build a new 40 story tower there. At the same time he acquired a residential building at 1501 Lexington Avenue in Manhattan for $90 million, The Real Deal has reported.

Schron intends to demolish an old strip mall on Neptune Avenue to build the new tower that will be 20 stories higher than any of the area’s pre-existing buildings. But some locals are not happy with the prospect of the disruptions to their lives that the construction will cause, the loss of their neighborhood stores and the changes that the new building will bring with it.

“We have to fight this, ” longtime resident Barbara Sherman told the New York Daily News. “It will destroy our whole quality of life here.”

There are also concerns about possible contaminations to the area that may result from the construction on a site that was once home to a gas manufacturing plant. Local City Councilman Chaim Deutsch said, “I think it was only the right thing to let the community and elected officials know.”

The new tower is expected to be 432 feet tall, hold 690, 000 square feet of space, have 544 apartments and include its own small mall with 162, 000 square feet of retail space. This is intended to replace the existing strip mall called Trump Village Shopping Center, located next to Trump Village, which surrounds the site.

The building will also hold about 16, 000 square feet of community space.

1501 Lexington Avenue is a 15 year old residential tower locate at 97th Street on the Upper East Side. It has 160 apartments and 5, 700 square feet of retail space. The building is one of three that comprise Carnegie Hill Place.

Building amenities include a 24/7 concierge-attended marble & stone lobby, a fitness center featuring all TechnoGym equipment, a professionally landscaped rooftop garden & sun deck and on-site valet parking.

Apartment amenities include granite kitchens with halogen track lighting, baths with deep tri-view medicine cabinets and all residences are pre-wired for home networking and broadband Internet access.

1 Comment

1 Comment

  1. Velvel

    January 22, 2015 at 6:50 pm

    Bad location for a good project.  This building will be a major flop in that area, you won’t find 500 people to pay that kind of rent to live next to the elevated F train in a depressing run down neighborhood.

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