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Former Beefsteak Charlie’s Building To Be Redeveloped Following $5.4 Million Sale

Posted By Ned Berke On May 13, 2014 @ 1:26 pm In Real Estate | 6 Comments

beefsteak

Well, there goes my dream of reopening the long-shuttered Beefsteak Charlie’s [1], sitting back, and wasting away the rest of my life with an endless supply of cocktail shrimp.

After two attempts to get medical facilities off the ground, 3121 Ocean Avenue, the former home of Beefsteak Charlie’s, was purchased by Chestnut Realty for $5.1 million on April 24.

And just in case you thought maybe they’d like to realize my dream for me, well, nuh-uh. They’re looking to bring in a national chain or a bank. If that doesn’t work, office space it is.

“The current owner is considering developing the site for an office building or to lease to a national anchor tenant. We are currently in negotiation with a financial institution as well as a few other chain tenants, so we will see what will come of it,” said Arsen Atbashyan, CEO of Commercial Acquisitions. Commercial’s Denis Abayev served as listing agent on the deal.

There’s quite a bit they can do with the property. It’s a 21,113 square foot lot, and the building currently there takes up 9,500 square feet. Located in a C1-2/R4 zoning district [2], they could double the current building’s size and pack it with both commercial and residential units.

Regardless of what happens, it’s likely to be better than the unkempt, derelict lot [3] it’s been since Maimonides Medical Center struggled [4] to get a medical center off the ground in this spot. That followed an attempt to do the same by Coney Island Hospital, which was forced to retreat due to budget cuts [5].

And, of course, before both those attempts… the Beefsteak, which closed in the late-90s:

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Article printed from Sheepshead Bites: http://www.sheepsheadbites.com

URL to article: http://www.sheepsheadbites.com/2014/05/former-beefsteak-charlies-building-redeveloped-following-5-4-million-sale/

URLs in this post:

[1] long-shuttered Beefsteak Charlie’s: http://www.sheepsheadbites.com/2010/03/remember-when-beefsteak-charlies-filled-us-up/

[2] C1-2/R4 zoning district: http://www.propertyshark.com/mason/text/infopages/Zoning-NYC/C1_C2.html

[3] unkempt, derelict lot: http://www.sheepsheadbites.com/2013/12/contractors-finally-fixing-sidewalk-obstacle-on-ocean-avenue/

[4] Maimonides Medical Center struggled: http://www.sheepsheadbites.com/2010/06/look-who-got-a-new-sign/

[5] retreat due to budget cuts: http://www.sheepsheadbites.com/2009/04/title-11/

[6] Waldbaums Shopping Center Sold For $10 Million: http://www.sheepsheadbites.com/2010/05/waldbaums-shopping-center-sold-for-10-million/

[7] Brighton Beach To Lose Met Foods, Gain Fancy Development Targeting National Retailers: http://www.sheepsheadbites.com/2012/08/brighton-beach-to-lose-met-foods-gain-fancy-development-targeting-national-retailers/

[8] Brooklyn’s First “Subway Cafe” Franchise Coming To Manhattan Beach: http://www.sheepsheadbites.com/2013/02/brooklyns-first-subway-cafe-franchise-coming-to-manhattan-beach/

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