Source: The Real Deal

Date: 10.28.2025

Link: City Names Rybak developer of 505-unit Coney Island Project

The New York City Economic Development Corporation (NYCEDC) selected Rybak Development through a competitive request for proposals process to transform 80,000 square feet of city-owned land into a $350 million, 505 unit mixed-income housing project in an effort to transform Coney Island. The redevelopment of Coney Island is an example of public-private development, as the City of New York is partnering with a private developer to advance large-scale community revitalization goals. This collaboration combines public land and infrastructure investment, includin.g over $1 billion in boardwalk and capital improvements, with private financing and development expertise.