The Residences at Prospect Place (701 Prospect Place)

StudiosC Architecture filed the new-building job in May 2023, and DOB approved it in July 2024. The filing describes a six-story concrete building with no cellar, about 26,800 square feet, 69 feet tall, with 18 dwelling units. The structure uses concrete shear walls, 8-inch flat slabs and spread footings. A 10-foot curb cut on Prospect Place serves the garage. An earlier owner had filed a 16-unit scheme for the lot in 2020.

Sponsor materials describe 10-foot ceilings, floor-to-ceiling windows, 7-inch oak floors from Spain, central heating and cooling, and an LG washer-dryer in each home. Kitchens have honed quartz counters, walnut-veneer cabinetry and Bertazzoni, Bosch and Fisher & Paykel appliances. Sponsor materials say every home has a balcony or terrace. One published roundup put the count at 17 of 18. Layouts range from a 429-square-foot studio to three-bedroom homes of about 1,300 square feet.

Per the offering plan filed with the New York State Attorney General (plan CD240334), the plan was submitted November 27, 2024, accepted May 30, 2025 and declared effective April 23, 2026, by Amendment 2, with three of the 18 residences (16%) in contract. The plan covers 27 units: 18 residences and nine parking spaces. The record spells the sponsor entity "Prospet Place Brooklyn LLC."

The record gives a total offering price of $25,680,000 at acceptance. Amendment 2 records a $30,000 price reduction and a new total of $25,555,000, which is $125,000 below the acceptance figure, so the record's numbers do not reconcile. Amendment 1, accepted July 2025, moved the first year of operation to June 1, 2026 and reported no units under contract. Amendment 3, accepted August 18, 2026, covers the temporary certificate of occupancy, $5,000 escrowed toward the permanent certificate, combined units with revised floor plans, and storage units. The record still reports three units sold, fewer than the six closings recorded in ACRIS, so the Attorney General count lags.

Sales started October 1, 2025. The condominium declaration was signed January 30, 2026 and recorded May 4, 2026, creating 18 residential units plus parking and other units.

Recorded sponsor closings (ACRIS):

Residence 501 closed above its $1,425,000 ask, and 502 slightly above its $1,895,000 ask. Uneven amounts like these often mean the deed price includes a transfer-tax gross-up or extras, so compare contract terms, not only deed prices.

Current asking prices (listing records, mid- to late 2026): one-bedrooms from $895,000 to $1,175,000 (745 to 835 sq ft, about $1,200 to $1,410 per sq ft); two-bedrooms from $1,375,000 to $1,495,000 (about $1,380 to $1,560 per sq ft). For contracts signed by October 31, 2026, the sponsor was offering to pay two years of common charges. One listed two-bedroom shows common charges of about $591 a month and taxes of about $603 a month.

ACRIS also shows sponsor financing recorded against the unsold units, most recently in September 2026.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01225-7501; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price.

Price against the closings, not the asks. Six deeds are on record. For a unit without parking, compare the deed's price per square foot with your contract price, and ask the sponsor what the gross-up and credits were on recent deals.

Value the incentive. Two years of paid common charges on a $591 monthly charge is worth about $14,000. Compare that with a price reduction of the same size, which also lowers your transfer and mansion taxes.

Parking and cabanas are separate units. Parking spaces carry their own deeds, common charges and taxes. Get the parking price and carrying costs in writing.

Sponsor control and unsold units. About a third of the units had closed by August 2026, and the sponsor has financed the rest. The by-laws set when owners take control of the board. Ask how the sponsor pays common charges on unsold units and what happens if sales slow.

Policies. Listing records disagree on pets. Confirm the pet, sublet and pied-à-terre rules in the declaration and by-laws.

Certificate of occupancy. Closings have been recorded, so the building is operating on at least a temporary certificate of occupancy. Ask when the sponsor expects the final certificate and what it holds back until then.

Closing costs. In sponsor sales the buyer customarily pays the New York City transfer tax (1.425 percent above $500,000) and the New York State transfer tax (0.4 percent), plus the 1 percent mansion tax at $1 million and above. The calculators below price both.

If you're considering The Residences at Prospect Place, also evaluate these Crown Heights condominiums:

• The Sinclair (715–717 Prospect Place) — walk-up condominium on the same stretch of Prospect Place
• 630 Grand Avenue — ground-up new-construction condominium
• 111 Montgomery Street — ground-up new-construction condominium
• 1000 Union Street — elevator condominium in Crown Heights
• 822 Bergen Street — planned seven-story condominium
• 1151 Dean Street — condominium rehabilitation of an existing building