Seaview Estates

Address: 10801 Seaview Avenue, Brooklyn, NY
Submarket: Canarsie
Size: 140,000 square feet, 223 residential units
Type: Residential condominium
Date Acquired: January 2003
Date Sold: Condominium Conversion Completed: 2006

Seaview Estates is a 223-unit, gated, waterfront residential condominium complex situated on a 3.2-acre site bordered by an inlet of Jamaica Bay. The five-building community features a pool, tennis courts, a fitness facility, and parking. Residences are a mix of studio, one, two, and three-bedroom simplexes and two-bedroom duplexes, many with private terraces or patios. We acquired the property in January 2003 when it was operated as rental apartments. Our team implemented a thorough capital improvement and repositioning plan, which included repairing the roof and windows, upgrading the landscaping, fixing the seawall, and renovating the individual units, in concert with a plan to convert the units to condominiums. We also added amenities including a laundry room, storage bins, and upgraded security to enhance the offering. A complete sell out was achieved within three years of acquisition.

Seaview Estates