# 1613 Mermaid Avenue, Brooklyn, NY 11224

> **TL;DR:** 45bd/16ba commercial, $6,500,000 ($407/sqft), 15,986 sqft. Est. $28,167/mo. Listed 17 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $6,500,000 |
| Price/sqft | $407 |
| Bedrooms | 45 |
| Bathrooms | 16 full |
| Square Feet | 15,986 |
| Property Type | Commercial (Other) |
| Status | For Sale |
| Days on Market | 17 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $28,167 |
| **Total** | **$28,167** |

## Description

### Agent Description
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. Email today for the Offering Memorandum!

## Location

- **Address:** 1613 Mermaid Avenue, Brooklyn, NY 11224
- **County:** Kings
- **Coordinates:** 40.576945, -73.984296
- **Google Maps:** https://www.google.com/maps?q=40.576945,-73.984296

## Listing Agent

- **Name:** Sarah Sawyer
- **Brokerage:** Compass
- **Phone:** 9178541898
- **Email:** sawyer@compass.com

## Primary Photo

![1613 Mermaid Avenue - Primary Photo](http://lh.rdcpix.com/4c6ad49a2f8d2db9cf7277d3359f4305l-f3801691775r.jpg)

*8 total photos available on [listing page](https://www.propertysimple.com/listing/1613-mermaid-avenue-brooklyn-ny-11224-11779824)*

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**MLS#:** 11779824 | **Updated:** 2026-06-19
**Source:** listhub

*Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/1613-mermaid-avenue-brooklyn-ny-11224-11779824)

---

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