Eye On Real Estate
By Lore Croghan
Brooklyn Daily Eagle
Sails are billowing along the shoreline in Sheepshead Bay.
These particular sails are not rigged to sailboats docked in the waters off Emmons Avenue.
The gigantic sails are made of metal. They form a sculpture that stands on a 9,000-square-foot public plaza built by a condo developer.
The 58-unit condo development, which is called The Vue, is located at 1809 Emmons Ave. on a prominent corner where the Venetoklis family operated El Greco Diner for four decades.
The sculpture reflects blue skies and the avenue's busy vehicular traffic. It caught our eye the other day when we were walking around Sheepshead Bay looking at the waterfront neighborhood's old and new housing stock.
The condo building and the public plaza situated alongside it are looking fairly photogenic these days, though construction work isn't quite finished.
On March 29, the city Buildings Department issued a temporary certificate of occupancy for The Vue — which excludes any “eating and drinking establishment” that is constructed there.
In addition to condos, The Vue has 26,000 square feet of dramatic-looking glass-walled retail spaces.
It's going to have a rooftop recreation area with a saltwater pool.
In December 2014, the Venetoklis Family Limited Partnership sold the El Greco Diner site for $13 million to an LLC with Sergey Rybak as managing member, city Finance Department records indicate.
His firm, Rybak Development, has constructed other residential buildings in Sheepshead Bay and nearby Manhattan Beach.
By the way, Finance Department records show that the developer received the right to build additional floor area at The Vue in exchange for constructing the plaza. The property's present and future owners must maintain the plaza and keep it “accessible to the public at all times from Emmons Avenue,” the plaza's Notice of Certification says.
Condo marketing and sales are being handled by Ilite Realty Inc. in coordination with the Corcoran Group.
Four dozen condos at The Vue are in contract at this point. Their asking prices ranged from $1.695 million for a three-bedroom penthouse to $525,000 for a one-bedroom unit, Corcoran's website indicates.