230 Park Place
230 Park Place, Brooklyn, NY 11238
Prospect Heights, Brooklyn
BBL 3011640042 · BIN 3029055
- Year built
- 1937
- Type
- Cooperative
- Units
- 82
- Floors
- 6
- Landmark
- Designated
- Subletting
- Plan as filed (1985): a shareholder has the right to sell or sublet, but the Board of Directors and/or shareholders may refuse approval, and the plan states the refusal may be unreasonable provided it complies with applicable civil rights laws. Current policy, term limits and fees unverified.
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 1985 plan as filed). Reported and subject to confirmation. Board policies can change by amendment — confirm at the offer stage.
Prospect Heights is a row-house district, and its landmarked core is overwhelmingly a nineteenth-century one: Italianate and neo-Grec brownstones, Queen Anne and Romanesque Revival brick, four-story walk-ups on Vanderbilt Avenue. The Landmarks Preservation Commission's own designation report is blunt about the arithmetic — the district was substantially built out before 1910, fewer than ten buildings in it went up between 1920 and 1940, and there are only four six-story elevator apartment houses inside the boundary. 230 Park Place is one of the four, and it is the only Art Deco building of any kind in the district.
That makes it a genuinely unusual asset. Buyers who want the protections and the streetscape of a designated historic district almost always have to buy a row house or a floor-through in one. Here you can buy an elevator apartment with an attended-hours lobby, a laundry room and a courtyard, inside the same district line, with the same Landmarks oversight of the façade you are looking at. There is very little of that in Prospect Heights, and there is nothing else quite like it.
The building's site history is characteristic of how the neighborhood changed. The Home for Destitute Children stood here until it was demolished in the early 1930s and the lot was subdivided; the current building followed in 1937 under NB 4009-1937. It went up in the wave that the 1920 opening of the IRT subway under Eastern Parkway set off — the moment when developers discovered that a six-story elevator building was the sweet spot in the city's building code, since only the first two floors had to be fireproof, and began replacing institutional and vacant land in the neighborhood with middle-class apartment houses. Most of that wave landed just outside the eventual district line, on the Plaza and along Eastern Parkway. This one landed inside it.
The Art Deco program on the Park Place façade is restrained and legible: slim windows set into narrow stone panels carrying a chevron motif, stone lintels with rosettes at the top floor, and stone wave-motif panels above the corner windows, all of it emphasizing horizontality across a ten-bay elevation with a recessed center and a courtyard entrance. The LPC's field description records it as remarkably intact apart from replacement sash. That last point has a direct consequence for owners: replacement windows in a designated district are a Landmarks matter, and the district's designation in 2009 came after the sash on this building had already been changed.
The conversion is the other half of the file. The plan was offered on December 20, 1985 by Park Place Associates, a Brooklyn syndicate operating out of 115 Court Street that took a substantial portfolio of Brooklyn apartment houses cooperative in the same period — including the neighboring building at 225 Park Place, offered four months later. As of March 1985 the building held 66 rent-stabilized apartments, six rent-controlled apartments and nine vacancies; insiders bought at roughly a 25 percent discount. The apartment corporation took the property in a Section 351 tax-free exchange, which left it with the sponsor's basis rather than a stepped-up one, and it carried a $1.5 million wraparound purchase-money mortgage held by the sponsor at 10 percent, balloon due at the end of 1996, sitting over an underlying institutional mortgage. Those are 1980s structures and they are long since resolved, but the exchange basis is a permanent feature of the corporation's tax position and worth understanding if you are asked to vote on anything involving a sale of the property.
Architecture and unit composition
The building presents roughly 175 feet of frontage to Park Place and runs about 115 feet deep on a 22,925-square-foot lot, with approximately 114,500 square feet of building area — a large, low, wide building by the standards of the block it sits on. The recessed core and courtyard entrance mean that the apartment stock divides into street-facing lines and courtyard lines, and the difference in light, quiet and outlook between them is real and is priced.
The 1985 Schedule A calculated room counts using the Real Estate Board of New York method, which counts half-rooms — a detail worth knowing when comparing this building's room-count marketing against a co-op that used a different convention. Apartments here are 1930s middle-class plans: entry foyers, defined rooms, separated sleeping and living zones, and the proportions of a period when a six-story elevator building was a step up from a walk-up flat rather than a luxury product. Several have been combined or reconfigured over four decades of cooperative ownership, so the original share allocation is an imperfect guide to what a given apartment is today.
Because the building is inside the historic district, interior renovation and exterior work are governed differently: the LPC has no jurisdiction over interiors here, but windows, entrance, ironwork, parapet and any façade repair do require Landmarks review in addition to board approval and Department of Buildings permits. Build the extra approval step into any renovation timeline.
Building operations
At conversion the building ran on a lean staff — one superintendent, a part-time handyman and a part-time evening doorman working Monday through Saturday, with the employees organized under Factory and Building Employees Union, Local 187 — and on a first-year budget of roughly $359,000 against 9,759 shares. Laundry was a leased concession. The managing agent named in the plan, Galster Management Corp., was owned by the sponsor's own principals, a related-party arrangement disclosed in the plan and standard for the era but no longer descriptive of the building. Confirm the current agent, staffing and service contracts with management.
The building's tax history at conversion ran through the J-51 program: the city granted abatements against two certified reasonable costs totalling $38,200, worth about $3,183 a year and projected to be exhausted around July 1994, with a possible twelve-year exemption on improvement-related assessed value running to mid-1997. All of that is long expired. The building pays full freight today, and a buyer should pull the current assessment and per-share tax allocation rather than reasoning from the conversion documents.
For a 1937 masonry building of this footprint, the recurring capital items to review are the FISP/LL11 façade cycle — heightened here because the work also needs Landmarks approval — elevator modernization, roof and parapet, the heating plant, and the courtyard and areaway drainage. Ask for the financial statements, the assessment history, the reserve position and the last two façade filings.
Recent sales
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Mar 5, 2026 | 2J | $1,605,000 |
| Aug 13, 2025 | 6N | $1,015,000 |
| Aug 6, 2025 | 5K | $935,000 |
| Feb 12, 2025 | 1G | $925,000 |
| Nov 22, 2024 | 5G | $945,000 |
| Sep 13, 2024 | 1A | $1,450,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01164-0042) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price.
What to know if you’re buying
You are buying inside a historic district, and that cuts both ways. The block is protected and the streetscape is stable. Your window replacement, your ironwork and your façade repair go through the Landmarks Preservation Commission. Price the timeline, not just the cost.
Confirm the line before you confirm the price. Street-facing and courtyard apartments differ materially in light and quiet in a building with a recessed core. Visit at two different times of day.
Ask for the flip tax and sublet policy in writing early. Neither is documented in the conversion file. Both are material to your exit, and both belong in the application-stage questions.
Read the corporation's tax basis. The property came in through a Section 351 exchange in 1986, which left the corporation with the sponsor's basis. It is a permanent structural fact about the entity you are buying into.
Verify the room count convention. The plan used the REBNY method, which counts half-rooms. Compare like with like when you shop the neighborhood.
What to know if you’re selling
Name the distinction. This is the only Art Deco building in the Prospect Heights Historic District and one of only four six-story elevator apartment houses inside the line. Both facts come straight out of the Commission's designation report, and they belong in the first paragraph of the listing.
Photograph the ornament. The chevron panels, the rosette lintels and the wave motif above the corner windows are the building's argument. Most listings on this block show a lobby and a kitchen.
Position against the neighborhood's prewar elevator co-ops. Contemporary condominium pricing in Prospect Heights will not support your ask and an appraiser will not accept it.
Assemble the board package before the first offer. Current financials, assessment history, house rules, sublet policy, flip tax and the Landmarks status of any work done to the unit or the building. Sellers who have it ready keep it from becoming a negotiating lever.
Comparable buildings
If you're considering 230 Park Place, also evaluate:
- 225 Park Place — the Colonial Revival elevator co-op facing it from the north side of Park Place, converted by the same sponsor four months later; the closest direct peer
- 135 Eastern Parkway (Turner Towers) — the neighborhood's largest prewar cooperative, for buyers who want scale and bigger rooms
- 175 Eastern Parkway — 1920s Eastern Parkway co-op near the Brooklyn Museum; a comparable conversion-era file
- 125 Eastern Parkway (The Theodore Roosevelt) — smaller prewar co-op on the Parkway
- 41 Eastern Parkway — prewar co-op at the Grand Army Plaza end of the Parkway
- 34 Plaza Street East — Plaza Street prewar cooperative facing Grand Army Plaza
- 50 Plaza Street East — the boutique Plaza Street alternative
- 209 Lincoln Place — Park Slope prewar co-op inside that neighborhood's historic district; the landmarked-context comparison across Flatbush Avenue
- 44 Butler Place (Butler Plaza) — the small Prospect Heights condominium alternative, for buyers weighing tenure
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
Considering a move at 230 Park Place?
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A Private Pricing Opinion — what your apartment at 230 Park Place would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.