WSJ Feature: Muss Development Nears Completion on Final Oceana Building
As recently reported inThe Wall Street Journal,Muss Development is finalizing one of New York City’s most ambitious and successful luxury residential projects — the developer’s Oceana Condominium and Club in the Brighton Beach neighborhood of Brooklyn.
Construction of the oceanfront complex’s 16th and final building — 50 Oceana Drive West — is underway. Demand remains strong at the one-of-a-kind property, which has posted more than a dozen years of record sales and 900 units sold. More than 50 percent of the 59 luxury units in the new building sold in just the first few months of availability, with buyers lining up to secure the remaining two- and three-bedroom apartments. Six of the seven penthouse apartments are already spoken for and one-bedroom units are sold out.
The building will also contain over 15,000 square feet of medical space, over 9,000 square feet of retail, and parking for more than 50 cars. Construction is expected to be completed by the spring of 2014.
In a major Wall Street Journal profile, Ronald Li chronicles the history of the project, and of the Muss real estate family, particularly noting its impressive portfolio and prudent approach, which has proved highly successful throughout the firm’s history, which dates back more than 100 years.