279 Prospect Avenue
279 Prospect Avenue, Brooklyn, NY 11215
BBL 3010537501 · BIN 3325161
- Year built
- 2004
- Type
- Condominium
- Units
- 20
- Floors
- 5
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 279 Prospect Avenue 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.
279 Prospect Avenue is a 20-apartment elevator condominium with deeded parking and storage, on a South Slope block of row houses and small apartment buildings. It was permitted in 2003, and the sponsor sold the apartments between May and August 2004. Twenty apartments share two elevators.
The tax position is the main thing to understand. The building's 25-year 421-a exemption ran at the full benefit for 21 years, through 2024/25, and is now stepping down. For 2026/27 it covers 60 percent of each unit's assessed value above a small 2001 base, down from 80 percent last year. It drops to 40 percent next year and 20 percent the year after, and it ends on June 30, 2029. The tax bill here is rising every year through 2029/30. Any carrying-cost figure taken from a past listing or last year's bill is already out of date.
The sponsor's position is almost closed. All 20 apartments sold in 2004. The sponsor still holds one parking space (P1) and two storage units (S1 and S12) on the current roll. Nothing else remains.
Architecture and unit composition
The building rises five stories on a 9,005-square-foot lot, with about 25,000 square feet of floor area per PLUTO. Every floor carries four apartments. On the Department of Finance roll, the B and C lines on floors two through five run about 1,360 square feet and the A and D lines about 940. The first floor differs: 1A is about 655 square feet, 1B and 1C about 1,280 to 1,320, and 1D about 915. The roll's figures are the city's gross measurements, not the sponsor's; measure before relying on them.
Parking spaces are 153 square feet each on the roll, and storage units range from about 30 to 110 square feet. Both are separate deeded condominium units with their own tax lots and their own share of the 421-a. Several apartment owners hold a space and a storage unit alongside their apartment, but the three are conveyed separately. A buyer gets only what the deed names.
The DOB filing records the building at about 58 feet. It was permitted under the R6 zoning in force before 2005. The same block now includes a 147-unit, five-story building completed in 2024 at 263 Prospect Avenue, per PLUTO. That building is a rental and is not part of this condominium.
Building operations
The 421-a schedule, read directly from the Department of Finance record. On the 2025/26 roll, each apartment's exempt value equals 80 percent of its assessed value above a fixed pre-construction base. On the 2026/27 roll it equals 60 percent. That matches the statute's 25-year schedule: 21 years at 100 percent, then four annual steps of 20 points. The benefit began in 2004/05, so 2027/28 is at 40 percent, 2028/29 is at 20 percent, and full taxes apply from the 2029/30 tax year, starting July 1, 2029. Have the buyer's attorney confirm it against the unit's exemption detail.
No regulatory agreement found. ACRIS indexes no regulatory agreement or declaration of restrictions against the base lot or the unit lots, and every apartment sold to an unrelated buyer. Ask condominium counsel what eligibility the 25-year term rests on.
Finances and capital. No budget, audited statements or reserve figures are on file. At 22 years old the building is at the age when roofs, elevators and heating and cooling equipment come up for replacement. Ask for the last two years of audited statements, the reserve balance, any assessment history and the elevator maintenance contract. At five stories it sits below the six-story threshold of the city's façade-inspection program (Local Law 11).
Recent sales
279 Prospect Avenue trades as early-2000s South Slope elevator condominium product, priced per square foot. Buyers compare it with the mid-size South Slope condominiums built after it, which often carry a newer abatement, and with Fourth Avenue buildings that offer more amenities. Its strengths are a small building, two elevators, and deeded parking and storage. Its disadvantage against newer buildings is an abatement that is nearly finished. Compare total monthly cost at the 2029/30 tax level, not common charges alone. Within the building, the 1,360-square-foot B and C lines and the upper floors set the top of the range, and a deeded space adds separate value. With 20 apartments, resales are infrequent. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent closings 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 |
|---|---|---|
| Jul 1, 2026 | P8 | $1,463,000 |
| Apr 2, 2025 | S3 | $1,400,000 |
| Sep 28, 2023 | S5 | $985,000 |
| Nov 23, 2022 | 5A | $998,000 |
| Jul 15, 2021 | 2A | $970,000 |
| Jan 11, 2019 | 2C | $1,250,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01053-7501) 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.
Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
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What to know if you’re buying
Underwrite the 2029/30 tax bill. The exemption is at 60 percent for 2026/27 and gone by July 2029. Use the full-tax number for any hold longer than three years.
Confirm what conveys. Parking and storage are separate units. If the listing includes them, the contract and the deed must name the lot numbers.
Ask for documents early. Nothing about this building's governance or finances is in the public record. Budget, reserves, leasing rules and pet policy all have to come from the managing agent.
What to know if you’re selling
Price with the tax schedule in view. Buyers' attorneys will see the phase-out. Presenting the year-by-year tax figures up front removes a common late-stage renegotiation.
Sell the parking and storage deliberately. Decide early whether to bundle them or sell them separately. Other owners in the building are the most likely buyers of a separate space.
Lead with the building's scale. Twenty apartments, two elevators and deeded parking belong in the first lines of the listing.
Comparable buildings
If you're considering 279 Prospect Avenue, also evaluate:
- 162 16th Street (The Vue) — the ten-story condominium on the next block west, from the same architect of record, with a 25-year 421-a that runs to 2033/34
- 372 15th Street (The Park Pavilion) — a 30-residence condominium of the same generation and architect of record whose 15-year 421-a has fully expired
- 675 Sackett Street — a same-generation Park Slope condominium whose 25-year 421-a runs one year behind this one
- 155 15th Street (Harbor Hill) — a 21-residence South Slope condominium with a garage, in the final year of a 15-year 421-a
- 939 Union Street — a 2003–04 Park Slope condominium whose 15-year 421-a has expired
- 575 Fourth Avenue — a 70-residence 2018 condominium near the same R station
- 343 Fourth Avenue — a larger 2006 Fourth Avenue condominium with a garage
- 1638 Eighth Avenue — a 27-residence condominium with parking at the south end of the Slope
More Park Slope buildings
- 27 Prospect Park West — 1928 co-op
- 270 Fifth Street (The Milk Factory) — 1911 co-op
- 276 13th Street (5 One 5 Condominiums) — 2008 condominium
- 300 8th Avenue, 300 Eighth Avenue — 1920 co-op
- 309 2nd Street (The Heritage at Park Slope) — 2008 condominium by Karl Fischer Architects
- 343 4th Avenue (Novo), 343 Fourth Avenue — 2006 condominium
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Park Slope.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at 279 Prospect Avenue?
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