1613 Mermaid Avenue
$6,500,000
MLS# RLS20092735 · Coney Island
Listed May 21, 2026 · 174 days on the market
45 Beds 16 Baths 15,986 Sq.Ft.
About This Property
1613 Mermaid Avenue presents a rare opportunity to acquire a recently constructed mixed-use investment property in the heart of Coney Island. It is in the middle of the TREMENDOUS $1B investment into the Coney Island waterfront corridor. Located 1 block to Surf Avenue, 2 blocks to Nathan's hot dogs. This is a cash cow trophy property ready for its new owner.
Built in 2020, the seven-story elevator building spans approximately 15,986 square feet and consists of 16 residential apartments, eight parking spaces, and a laundry facility. Ideally located between West 16th and West 17th Streets, the property sits just moments from the iconic Coney Island Boardwalk, beaches, and major transportation lines, positioning it within one of Brooklyn’s most recognizable and evolving waterfront neighborhoods.
Current average rents are approximately $2,805 per apartment, with projected annual residential income of $538,500, PLUS additional revenue generated from parking and laundry operations. The building’s modern construction, efficient layouts, and strong tenant demand contribute to a compelling investment with long-term upside potential.
A major highlight of the offering is the valuable 421A tax exemption, currently in year 8 of 15 and extending through June 30, 2034, creating strong cash-on-cash performance and long-term holding appeal in a rapidly developing submarket.
Coney Island continues to experience ongoing public and private investment, blending its historic beachfront attractions with a growing year-round residential community. Residents enjoy immediate access to the beach, Luna Park, the New York Aquarium, Maimonides Park, and multiple retail conveniences, while the nearby Stillwell Avenue transportation hub provides direct subway access to Manhattan. 1613 Mermaid Avenue represents a turnkey Brooklyn multifamily asset combining modern construction, tax advantages, and stable income in one of New York City’s most iconic coastal neighborhoods.
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Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Compass.
Sixteen residential apartments sit above the ground in this seven-story elevator building at 1613 Mermaid Avenue, which was completed in 2020. The mixed-use property spans about 15,986 square feet, and the listing describes its modern construction and efficient layouts.
The elevator is the detail I'd check first in a building this size. Carrying groceries and moving furniture are simpler when you aren't using stairs to reach your door, and that matters on a seven-story floor plan.
The building sits between West 16th and West 17th Streets, one block from Surf Avenue and two blocks from Nathan's. Shop Fair Supermarkets is about 4 minutes on foot, and Totonno's Pizzeria Napolitana is about 3 minutes away. Steeplechase Park is about 3 minutes, and the Coney Island-Stillwell Avenue station, served by the D, F, N and Q, is about 4 minutes.
The listing notes private outdoor space of over 60 square feet, and it places the building just moments from the Coney Island Boardwalk and beaches. I like having the boardwalk close enough to use in the warmer months without planning a trip around it.
Quick answers+
Does the building have an elevator?
Yes. It is a seven-story elevator building.
Does the building have a laundry facility?
Yes. The building includes a laundry facility.
Is there parking at the property?
Yes. The property has eight parking spaces.
Curtis Bain
Brown Harris Stevens
Property Features
Home features
- Private outdoor space (over 60 sq ft)
Building amenities
Services and facilities
- Laundry in building
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$46,479 / month
- Principal and interest$32,868
- Property taxes$13,611
Due at closing
- Down payment (20%)$1,300,000
- NYS “mansion tax” (2.25%)$146,250
- Mortgage recording tax (1.925%)$100,100
Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
Location & Nearby
Map
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1613 Mermaid Avenue
Subway
- DFNQConey Island-Stillwell AvAbout 4 min walk · Accessible
- FQW 8 St-NY AquariumAbout 12 min walk
Parks
- Steeplechase ParkAbout 3 min walk
- Abe Stark Skating RinkAbout 4 min walk
- Neptune PlaygroundAbout 5 min walk
Public schools · Elementary schools
- P.S. 90 Edna Cohen SchoolAbout 6 min walk
- P.S. 288 The Shirley TanyhillAbout 12 min walk
- P.S. 329 SurfsideAbout 16 min walk
Middle schools
- Mark Twain I.S. 239 for The Gifted & TalentedAbout 12 min walk
- I.S. 303 Herbert S. EisenbergAbout 19 min walk
High schools
- Liberation Diploma PlusAbout 2 min walk
- Rachel Carson High School for Coastal StudiesAbout 19 min walk
Walking times are estimates. Schools shown are the nearest public and charter schools and are not zone assignments; a nearby school is not necessarily the one an address is zoned for. Confirm zoning with the NYC Department of Education. Sources: MTA, NYC Parks and NYC Department of City Planning open data.
The Neighborhood
About Brooklyn
Coney Island is covered by our Brooklyn guide.
A dynamic borough offering architecturally significant residences, world-class culture, and an unmatched creative energy.
Walkability
9/10
Public transit
8/10
Schools
7/10
Dining
9/10
Groceries & parks
8/10
Gallery
Property Photos
Listing Courtesy of Compass
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.