On June 23, 2026, crews hoisted the final structural piece into place at 1709 Surf Avenue, the last building in Coney Island’s Surf Avenue redevelopment. The newly topped out structure will bring roughly 420 all-affordable rental homes to the beachfront and closes out the three-phase Coney Island West seaside master plan. With the frame finished, the project now shifts into exterior enclosure and interior build-outs on the road to eventual occupancy.
Topping-out ceremony
Developer BFC Partners marked the milestone with a topping-out celebration on-site, where company principals joined the construction team to sign a commemorative plaque. The crew was treated to food from Nathan’s Famous, turning the workday into a small boardwalk-style party. As reported by Citybiz, the event underscored how long this project has been in the making.
Project scope and design
According to the New York City Housing Development Corporation’s project memo, Phase III is planned as a 12-story building with 420 residential units, spanning studios and one-, two- and three-bedroom apartments. The document also notes roughly 9,000 square feet of community-facility space, along with ground-floor retail, and outlines a financing structure that relies in part on tax-exempt bonds. For the full breakdown, see NYC HDC.
Funding and partners
The project is financed through a blend of public subsidy and private capital. Reporting indicates that the city committed roughly $90 million in subsidies and that HDC issued bond authority to support the construction financing. Construction debt and equity were supplied by lenders including Citi and Goldman Sachs, according to The Real Deal.
Where it sits
The building rises at 1709 Surf Avenue, fronting the boardwalk between West 17th and West 19th Streets, directly across from Maimonides Park and a short walk from the Coney Island-Stillwell Avenue subway hub. Coverage has also spotlighted a 220-foot mural by artist Vincent Ballentine that brings color to the construction fencing along Surf Avenue; the artwork adds a community-focused note to the site’s long construction stretch. For more on the mural, see Spectrum News NY1.
Timeline and next steps
With the structure in place, contractors will focus on closing in the exterior and completing interior finishes before leasing and handover. The development is expected to wrap in 2028, according to coverage of the topping-out by New York YIMBY.
Why this matters
This topping-out effectively seals a long-running, city-backed effort to transform underused Surf Avenue lots into housing and neighborhood resources. Taken together with the earlier phases, the Surf Avenue trio delivers more than 1,200 affordable units to Coney Island. City officials have cast the overall program as a key part of a broader Coney Island revitalization push and tied it to the administration’s larger housing goals when the phases were announced, as outlined by the Mayor’s Office.
