At Ocean Terrace Cooperative in South Brooklyn, buyers can find a relatively affordable way to get beach and city at once. Constructed in 1962 and clad in buff-colored brick, the hulking 12-story apartment building (originally operated as a rental property by Fred Trump) was converted to co-ops in 1984. Its location near the south end of tree-lined Ocean Parkway means that the 190-unit property sits near several well-known neighborhoods. “You are right at the cusp of Coney Island and Brighton Beach,” explains Charles Olson, a Realtor with the Run NYC Team at Keller Williams who recently sold a three-bedroom home in the Gravesend building. “If you stay on Ocean Parkway, it turns into Surf Avenue,” he adds, referring the famous Coney Island thoroughfare that leads to the boardwalk, Luna Park and the New York Aquarium — all of which can be walked to in about 20 minutes or less from the building. “There’s everything you want to have in summertime.” While it carries a lot of traffic, Ocean Parkway’s lack of commercial storefronts gives the neighborhood a distinctly residential vibe once the busy summer season ends.
Studios to three-bedroom units, many with private outdoor space
Ocean Terrace has an array of layouts, including studios, which start at around $191,000 and measure anywhere from 400 to 650 square feet, and one-bedrooms, which are priced at $250,000 and up. Two-bedroom dwellings are available for around $450,000, and the building also has a line of three-bedroom units, measuring roughly 1,500 square feet. One of those three-bedrooms sold in September 2024 for $435,000, although it needed new flooring and other updates. The sale speaks to the degree that finishes differ from apartment to apartment, with some being completely renovated in recent years while others have peeling paint on the ceiling and dated appliances. Despite this, floor plans are uniform and typically include walk-in closets and galley kitchens, with many also equipped with private balconies or terraces, a feature that gives the exterior its eclectic appearance, as these outdoor spaces are often personalized with decorations, plants and furnishings. Due to the building’s height compared to neighboring structures, some of the high-floor units have views of the Verrazzano Bridge and the Manhattan skyline.
A 24-hour doorman plus resident-only outdoor pool and fitness center
With polished stone floors and lounge-like seating areas, the light-filled lobby has a welcoming, hotel-inspired feel, aided by the curving reception desk helmed by a 24-hour doorman who received packages. The live-in super and porter ensure that maintenance is carried out in a timely manner, and security cameras installed throughout the entry points of the building give an added layer of protection. From June to September, the rear courtyard becomes a popular hangout spot for residents thanks to an in-ground pool, a rare luxury in New York. A fitness center in the basement comes equipped with ellipticals, treadmills, weight machines and dumbbells. “It’s a very convenient place to live,” says Olson, who also points out that the building has a laundry room for residents located in the basement.
Small businesses cater to the immigrant community
Waves of immigrants from the former Soviet Union transformed this area of South Brooklyn starting in the 1970s. Nicknamed Little Odessa, Brighton Beach is dotted with traditional restaurants serving Eastern European and Central Asian fare, Orthodox churches, and specialty markets that cater to the immigrant community with signs in Cyrillic lettering. Technically in Gravesend, Ocean Terrace is located near several large grocery stores, among them Tashkent Supermarket on Coney Island Avenue, named after the capital of Uzbekistan, and Key Food on Avenue Z. Authentic Russian and Ukrainian bakeries, such as AVS Privilege Bakery, sell a variety of breads and elaborate confections.
The area’s most prominent thoroughfare is Ocean Parkway, which was originally masterminded in the 1870s by Frederic Law Olmstead and Calvert Vaux, the landscape architects behind Central Park and Prospect Park. As such, the boulevard is extra-wide and flanked by access roads and sidewalks lined with benches and shade trees. There are virtually no retail or commercial properties along this stretch, with residential buildings dominating. The lone exception is South Brooklyn Health, a large teaching hospital directly across the street from Ocean Terrace. Nearby, residents can find a smattering of small businesses such as barber shops, beauty parlors, pharmacies, laundromats and legal-advice storefronts.
Three bus lines stop in front of the building
While some people might think being so deep in Brooklyn would necessitate a car, there are indeed several convenient transit options, including some just steps outside the building. The B1, B4 and B36 bus lines, for instance, all stop on Ocean Parkway, and each connects to multiple subway stops along their routes. Several trains are within walking distance, such as the B and Q lines, which both stop at the Sheepshead Bay station, about 20 minutes away. The F train can be found roughly 15 minutes away, at the Neptune Avenue station, as well as on Avenue X, which takes a little longer to get to All three lines take riders through Brooklyn and into Lower Manhattan, a journey that takes anywhere from 40 minutes to an hour. A car, however, can come in handy, especially since the building sits near an onramp to Belt Parkway, which connects to the Verrazzano Bridge and Lower Manhattan in one direction and JFK Airport in the other. While Ocean Terrace does include a parking garage, there’s a waitlist for a spot.
A severe risk of flooding
Being within walking distance of the beach also comes with a drawback: The neighborhood was among those that experienced destructive flooding during Hurricane Sandy in 2012. The neighboring Coney Island Hospital (now South Brooklyn Health) was so badly damaged that a new $1 billion hospital tower was constructed on the site in 2023 and is encircled by a four-foot-tall barrier wall. The area has a “severe” risk according to Flood Factor, which scored the area as 8 out of 10.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
2/ 10
Very Bikeable
Bike Score®
77/ 100
Very Walkable
Walk Score®
85/ 100
Excellent Transit
Transit Score®
89/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Grady Playground
8 min walk
Baseball/Softball
Basketball
Playground
Century Playground
13 min walk
Basketball
Picnic Area
Soccer
Homecrest Playground
13 min walk
Trails
Playground
Waterpark
Asser Levy Park
2 min drive
Dog Park
Picnic Area
Playground
Luna Park Playground
3 min drive
Basketball
Playground
Scarangella Park
3 min drive
Baseball/Softball
Basketball
Playground
McDonald Playground
3 min drive
Basketball
Tennis
Playground
Marlboro Playground
4 min drive
Basketball
Playground
Bill Brown Memorial Playground
5 min drive
Basketball
Picnic Area
Soccer
Schools
Source:
GreatSchools:
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Disclaimer: Please note that this building may not be in these schools' attendance zones.
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