Condos Planned for Lot Next to Allegria

Beach-goers in Long Beach may be looking up from the waves at a newly developed condominium building in the near future, as the vacant lot adjacent to the Allegria Hotel was sold.

The Engel Burman Group purchased the property, at 50 West Broadway, for $4.6 million late last summer.

The .35-acre lot was in default from its previous owners, TechRealty Inc., and Michael Mazzeo Electric Corp., according to court documents. Jan Burman, president at Engel Burman, said he believed the loan was in default for a few years, and his Garden City-based company dealt directly with the lien holders, Metropolitan Savings Bank.

Burman indicated that his company is drawing plans for a condominium building that would hold between 15 to 20 units, and described it as “another high-end property like the Aqua, but smaller.” Engel Burman manages the Aqua, an eight-story oceanfront condominium building, at 405 Shore Rd. and Lincoln Boulevard, with 36 units that range in size from 1,730 to 2,400 square feet and, as of last year, were priced at $1.3 million to $3.3 million, representing some of the priciest properties in the city.

The parcel at 50 W. Broadway was in limbo for a number of years. As early as 2007, TechRealty’s petition before the zoning board to build a 20-unit condominium tower on the site was rejected on the grounds that the project was too large. TechRealty later scaled down its plans and considered building six townhouses.

In 2008, Allen Rosenberg, developer and owner of the Allegria, offered to purchase the lot from TechRealty, possibly to use it for more parking, but negotiations broke down. Some time afterward, TechRealty and Michael Mazzeo Electric went into default on the note and Engel Burman swooped in, purchasing the lien from Metropolitan Savings Bank and foreclosing on the property to take sole ownership.

Calls to Rosenberg for comment on whether his company made a more recent offer for the property were not returned.

Burman said the property’s location was a huge selling point for Engel Burman.

“It’s a beautiful property on the Atlantic Ocean, not far from the train station,” he said. “Each one of these units will have full glass on three sides, a full ocean view. It’s tough to pass up on something like that.”

Burman noted that his company is putting together an elevation drawing and plan for the building, but the whole process — from proposal of plans to breaking ground — could take up to two years.

* This story was updated at 7:51 on 1.13.12.