SPR Congratulates BFC Partners on Construction Financing for 1709 Surf Avenue, Coney Island

SPR congratulates BFC Partners for closing on a $250 million construction loan for 1709 Surf Avenue, the third and final phase of their transformative affordable housing development in Coney Island.

Once completed, 1709 Surf Avenue will provide 420 units of deeply and permanently affordable housing, over 10,000 square feet of commercial space, and an approximately 9,000-square-foot community facility. The 1709 Surf Avenue project will bring the total across all three phases of BFC’s development to 1,242 new affordable residential units in the Coney Island neighborhood.

SPR is proud to assist with navigating this major affordable housing project through the New York State Brownfield Cleanup Program (BCP). SPR Principal Michael Bogin serves as principal environmental counsel, with the assistance of Associate Kevin Rogers.

The Firm previously guided BFC’s Phase II project at 1607 Surf Avenue through the BCP, which received its Certificate of Completion from the State in December 2022 and completed construction in October 2024. The Phase II project is nearly fully leased as of Q3 2025.

We congratulate BFC and all project partners on this exciting milestone in advancing affordable, sustainable housing for New Yorkers.

A rendering of 1709 Surf Avenue. Image credit to BFC Partners.