The view from the Ocean Blue luxury apartments is spectacular.
In one direction the Atlantic waves roll against the beach. In another, Rockaway, the rest of Queens and Manhattan stretch out from its windows.
Known to many as a formerly failed project halted mid-construction, its new owners have built it anew from the inside out and are taking it straight to the top.
“Ocean Blue is unlike anything else available in the Rockaways,” David Kasner, the building’s exclusive agent, told the Rockaway Times. “It’s a luxury oceanfront building that truly offers a lifestyle unlike any other building.” There are 126 one and two–bedroom apartments which range in size from 650 to 1,300 square feet. They boast high-end touches like granite countertops, stainless steel appliances, hardwood floors and jacuzzi tubs, dishwasher, refrigerator, microwave, oven, air conditioners, and a washer and dryer in each apartment.
Other amenities include valet parking, 24 hour doorman and security, bike storage, live-in super and a 24 hour state of the art gym with men’s and women’s saunas. With only 26 of those units left, now would be the time to check Ocean Blue out.
“I’ve been in the real estate business full time for 10 years now. I got involved in this project because I work with Capitale Property Management on their Long Beach and Hempstead properties. I got a call one day asking what I know about Far Rockaway and if this was something I’d be interested in handling. The rest is history.
“In terms of timing, the rental market on Long Island and in Queens right now has arguably never been hotter, especially in beachfront communities.”
Before its rebirth, however, the building was definitely not up and coming. “A developer built this in hopes of selling the units as condos. At some point, he ran out of money and the bank refused to give him any additional funds.”
Kasner noted that the developer may have had a hard time selling the units because at this time, 2008-09, the real estate market was in the midst of a heavy slowdown. After its eventual foreclosure, the building then sat vacant for several years, finally going to auction this past March.
“In terms of timing, this was a perfect time to develop Ocean Blue. The other noteworthy item is that the tenants and the community are big winners here, too. Because quality rental inventory is so tight and rental prices are so high, Ocean Blue is a breath of fresh air. It brings high quality, luxury rental inventory to the Rockaways, at fantastic prices.
“The future of this area, in my opinion, is extremely bright. Not only do you have this building and all of the amenities, but the city has taken down the boardwalk and is putting up a brand new one.
“My favorite thing about Rockaway,” he says, “would have to be its centralized location. One of the reasons Ocean Blue has gotten so full so quickly is because it’s so close to just about anything you want. You’re close to Long Island and Manhattan, the Five Towns, JFK airport, St. Johns Hospital.
“Ocean Blue (is) eight blocks from the Atlantic Beach Bridge, and so close to Manhattan you have a perfect view of the skyline from your terrace. It’s very rare that you can literally be sitting on the beach, yet be so close to a huge city like Manhattan. Rockaway offers exactly that.”