BY ROSE ADAMS
A real estate investment
fi rm purchased more than
seven acres of land along
Shore Parkway for $57.5 million,
property records show.
New York-based FBE Limited
bought the fi ve properties,
which currently house
a large parking lot and a pier
that extends from Bay 41st
Street into Gravesend Bay.
The lots — 1900 Shorefront
Parkway and 1894 Shorefront
Parkway, along with three
other adjacent properties —
are located just south of the
amusement park Adventurer’s
Park, previously known
as Nellie Bly.
Documents list Thomas
Gagliano as the seller, and records
indicate that the land
had been in the Gagliano family
since 1967, the Real Deal
fi rst reported. In addition to
owning the properties, the
family runs Marine Basin Marina
from the Bay 41st Street
pier, which accommodates
more than 200 boats.
FBE Limited, headed by
Abraham Fruchthandler,
owns about 25 million square
feet of commercial and residential
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DRX9000TM
COURIER L 18 IFE, JANUARY 24-30, 2020
lots nationwide, including
several high-profi le
New York City properties. The
investment company is partnering
with Jamestown Properties,
Belvedere Capital and
Angelo, and Gordon & Co. to
redevelop Industry City, a 32-
acre industrial complex in
Sunset Park, and in 2018, the
fi rm fl ipped an Inwood mixeduse
development for $55 million
— more than twice what it
paid earlier that year, the Real
Deal reported.
Abraham Fruchthandler’s
son, Ephraim Fruchthandler,
landed on former Public Advocate
Letitia James’ “Worst
Landlord List” in 2015 for racking
up more than 400 building
code violations in his Harlem
apartment building. Fruchthandler
A real estate investment fi rm bought more than seven acres of waterfront property in Gravesend (marked in
blue) from the Gagliano family, which has owned the property since the 1960s. Google
is still listed on the
Crown Heights Tenant Union’s
“Worst Landlord Watch List”
for allegedly attempting to deregulate
rent-stabilized apartments
and ignoring repair requests
for his Classon Avenue
building. Fruchthandler has
also come under fi re for allegedly
attacking his wife with
a queen-size mattress in 2017,
the Post reported.
The Gravesend property
is zoned as an M1-1 district,
which allows for light manufacturing,
such as repair
shops, woodworking shops,
and storage facilities. Now,
the site houses the marina,
the parking lot, a fi shing charter,
and jet ski tour and rental
company that docks on the
pier.
FBE Limited and Thomas
Gagliano declined to comment
on the sale, but a source with
intimate knowledge of the sale
said that developers planned
to build a mall and an Amazon
storage facility on the site.
“The plan is they’re going
to put up a strip mall by Shore
Parkway and behind it an
Amazon warehouse,” said the
source, who spoke on the condition
of anonymity.
However, a tenant of 1900
Shore Parkway claimed that
the strip mall plan was just
hearsay.
“It’s all rumors, but no one
knows for sure,” said Max, a
captain at Lady L Charters, a
fi shing charter located on the
pier.
Amazon representatives
did not respond to requests for
comment.
Setting sale
Real estate fi rm buys seven-acre
lot along Gravesend waterfront
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S f i d 3
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