{"id":20365,"date":"2025-10-28T21:11:09","date_gmt":"2025-10-28T21:11:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/20365\/"},"modified":"2025-10-28T21:11:09","modified_gmt":"2025-10-28T21:11:09","slug":"nyc-selects-rybak-as-developer-for-505-unit-coney-island-housing-project-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/20365\/","title":{"rendered":"NYC Selects Rybak as Developer for 505-Unit Coney Island Housing Project \u2013 Commercial Observer"},"content":{"rendered":"

The New York City Economic Development Corporation<\/a> (NYCEDC) has chosen Rybak Development<\/a> to build more than 500 units of mixed-income housing on Brooklyn\u2019s Coney Island, according to a Tuesday announcement.<\/p>\n

As part of the city\u2019s redevelopment project called Coney Island West, the Coney Island-based Rybak will convert \u201cParcel A\u201d \u2014 an 80,000-square-foot, city-owned lot primarily used for parking on Surf Avenue between West 21st and West 22nd streets \u2014 into a $350 million residential complex called Tilyou Towers (named after George Tilyou, founder of Coney Island\u2019s original Steeplechase Park).<\/p>\n

SEE ALSO: The Plan: At 430 West Broadway, Industrial Charm Meets SoHo Chic<\/a><\/p>\n

The project, designed by Brooklyn-based IMC Architecture<\/a>, will comprise 505 apartments \u2014 383 market-rate and 122 affordable rental units \u2014 along with 32,000 square feet of retail and community space, 65,000 square feet of indoor and outdoor amenities, and 160 parking spaces, the announcement said.<\/p>\n

\u201cWe feel strongly that this section of Brooklyn is ripe for market-rate residential development, and we expect a strong interest from both local residents and New Yorkers from other parts of the city,\u201d Jason Reznik, development principal at Rybak, said in a statement to Commercial Observer.<\/p>\n

Equity financing for Tilyou Towers is being provided by Rybak\u2019s ownership team, Reznik added.<\/p>\n

News of Rybak\u2019s involvement in the project comes after the NYCEDC issued a request for proposals in February for the site. The NYCEDC chose Rybak following a \u201ccompetitive\u201d process, and the Tilyou Towers project is set to be completed by 2030, according to the announcement.<\/p>\n

The project also comes as part of Mayor Eric Adams\u2019s broader housing plan for Coney Island<\/a>, which envisions 1,500 new homes, a reconstruction of the historic Riegelmann Boardwalk, a $42 million renovation of the Abe Stark Sports Center, and investments into the neighborhood\u2019s streets and sewers.<\/p>\n

\u201cFor too long, finding a home in Coney Island has been a roller coaster ride; our administration promised to change that by building hundreds of new affordable homes to help more New Yorkers raise their family in this beloved neighborhood,\u201d Adams said in a statement. \u201cTilyou Towers will not only honor an iconic New Yorker whose energy and efforts still shape our city today; it will give 500 families a new home and, once again, demonstrate how we are the most pro-housing administration in city history.\u201d<\/p>\n

Rybak\u2019s project \u2014 which is expected to deliver the first phase of Adams\u2019s housing plan \u2014 will comprise two 28-story towers featuring a range of studio, one-bedroom, two-bedroom and three-bedroom residences, according to the announcement. The development will also feature an infinity swimming pool, a gaming area, a lounge, and a children\u2019s playground, as well as pet-friendly services.<\/p>\n

The building will also be reminiscent of its landscape: the beach.<\/p>\n

\u201cThe new building\u2019s sand-toned and taupe fa\u00e7ade will reference warm hues of the sun and nearby ocean beaches, while undulating lines of varied-sized windows on the structure\u2019s corners will remind the passersby of ocean waves,\u201d Eugene Mekhtiyev, principal of IMC Architecture, said in a statement. \u201cIt will serve the neighborhood residents as well as nearly 6 million annual visitors to Coney Island\u2019s attractions.\u201d<\/p>\n

Isabelle Durso can be reached at idurso@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The New York City Economic Development Corporation (NYCEDC) has chosen Rybak Development to build more than 500 units…\n","protected":false},"author":2,"featured_media":20366,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[3624,13763,1527,13762,81,13764,13765,9,24,63,122,124,123,13766,13767],"class_list":{"0":"post-20365","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-queens","8":"tag-channel","9":"tag-coney-island-west","10":"tag-construction","11":"tag-development-abe-stark-sports-center","12":"tag-eric-adams","13":"tag-eugene-mekhtiyev","14":"tag-jason-reznik","15":"tag-new-york","16":"tag-new-york-city","17":"tag-nyc","18":"tag-queens","19":"tag-queens-headlines","20":"tag-queens-news","21":"tag-riegelmann-boardwalk","22":"tag-tilyou-towers"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/20365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=20365"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/20365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/20366"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=20365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=20365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=20365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}