Ruby Schron pays $25M for Coney Island retail site
Real estate investor Ruby Schron has forked out $25 million to buy a 49,000-square-foot building at 532 Neptune Avenue near Coney Island, according to public records filed with the city today, reports The Real Deal.
Schron plans on tearing down a fence on the edge of the property and combining his latest acquisition with the adjacent Trump Village Shopping Center, which he has owned since the early 2000s, he told The Real Deal via a spokesperson. The three-story building he purchased has eight commercial units. Retailer Walgreens occupies the ground floor.
As The Real Deal previously reported, Schron may be the next New York City real estate mogul to crack Forbes’ list of the 400 richest Americans, thanks to a recent deal for the Woolworth Building at 233 Broadway.
The Real Deal: Ruby Schron pays $25M for Coney Island retail site, plans mall expansion