Trump Village Co-op in Sheepshead Bay Undergoes $40M Renovation This Summer

• Renovation budget is $40 million, starting early June 2024
• Project covers all 2,700 units across seven buildings at 2940-3030 Ocean Pkwy
• Building Board President Leonard Kroll cites infrastructure and lobby upgrades

Work on Trump Village, originally developed by Fred Trump in the 1960s, began Monday with scaffolding rising outside 2940 Ocean Parkway. The planned overhaul will replace roofing, upgrade lobbies, modernize elevators, and strengthen façade safety, according to Board President Leonard Kroll. The project impacts more than 3,500 residents, making it the city’s largest co-op construction site for the summer.

Residents received notice last month about phased repairs set to run through March 2025. In an interview, Kroll told NYC Pulse, “Our pipes and windows are well past fifty. We’re investing now to keep the place livable and energy-efficient for the next generation.” The undertaking is financed through a mix of reserve funds, bank loans, and a modest monthly assessment, detailed in a May 22 letter to shareholders.

Local councilmember Amber Adler called the renovation “a shot in the arm for Sheepshead Bay,” noting that construction jobs could benefit union labor in southern Brooklyn. Nearby food spots on Brighton Beach Avenue, like Varenichnaya and Wise Espresso Bar, are bracing for increased foot traffic. Residents worried about rent hikes were assured by Kroll that no market-rate conversions are planned: “This is still affordable co-op housing. We’re not becoming condos.”

Trump Village’s overhaul comes as other aging Brooklyn co-ops—like Trump Village’s neighbor, Luna Park Houses—face similar renovation needs. The Board aims to complete all exterior work before winter winds hit Ocean Parkway.

Frequently Asked Questions

Who is funding the Trump Village renovation?

The $40 million for the Trump Village renovation comes from the co-op’s reserve fund, institutional bank loans (primarily from Flushing Bank), and a temporary assessment on shareholders. No private equity or conversion funding is involved, and monthly costs are detailed in recent board updates.

Will residents be displaced during construction?

According to Board President Leonard Kroll, no residents will be temporarily or permanently displaced. Work will be done in phases, with advance notice given for any disruptive repairs affecting individual units, elevators, or lobbies. The Board is coordinating with tenant representatives to minimize inconvenience.

What changes will residents and visitors notice first?

The first visible changes at Trump Village will be scaffolding, elevator work, and common-area upgrades such as lobby renovations and security improvements. Window replacement and new roofs are scheduled for later phases, with all work slated for completion by March 2025.