Eight of 18 Condos Left at 701 Prospect Place in Crown Heights

Now Selling

Nov 1

701 Prospect Place, also called The Residences at Prospect Place, is an 18-home ground-up elevator condo on Prospect Place between Rogers and Bedford Avenues in Crown Heights. Every home has private outdoor space, and there's garage parking in the building, which is rare at this scale.

Where Things Stand

The Attorney General accepted the offering plan on May 30, 2025, and sales launched on October 1, 2025. As of November 1, 2026, 10 of the 18 homes have closed, five are publicly listed, and the other three haven't been publicly listed. Homes here have taken about 104 days on average to go into contract, though four went into contract the same day they listed. First closings took place in June 2026, so this is a finished building you can walk through today. Join my early access list below and you'll hear about price changes and the last few homes before they're gone.

The Numbers So Far

As of November 1, 2026, from the public listings:

Available now: five homes, three one-bedrooms (two with a home office and two outdoor spaces) and two two-bedroom, two-bath homes
Asking prices: one-bedrooms from $915,000 to $1,025,000 (745 to 835 square feet); two-bedrooms from $1,375,000 to $1,450,000 (930 to 994 square feet)
Monthly costs: common charges plus taxes from about $936 to $1,268 per month
Average asking price per square foot: about $1,320 across the available homes
Sold: 10 homes, from a studio to two top-floor three-bedrooms, last asking from $495,000 to $1,995,000

Three of the one-bedrooms have come down from their original asking prices, and some listings mention a closing credit for contracts signed by the end of 2026.

Available home: Residence 302, 1 bed, $915,000

Available home: Residence 601, 2 bed, $1,450,000

I can share details on the homes here that aren't publicly listed yet. Send me a note.

Buying in a New Development?

New construction works differently than a resale: offering plans, sponsor contracts, closing costs and timelines all have their own rules.

Read my guide to buying a new development condo →

A Closer Look at the Building

This is a new elevator building with a common roof deck, two private rooftop cabanas and garage parking spaces available to buy separately. Every home has a balcony or terrace, and the top-floor three-bedrooms have large terraces facing the skyline. Inside, the finishes include 7-inch oak floors, custom walnut cabinetry, honed quartz counters, Bosch, Bertazzoni and Fisher & Paykel appliances, about 10-foot ceilings, floor-to-ceiling windows, central heating and cooling, and an in-unit washer and dryer.

Want floor plans for the available homes? Send me a note and I'll share them.

Crown Heights Highlights

This stretch of Prospect Place sits between Franklin Avenue's restaurants and the brownstone blocks around Brower Park, with Prospect Heights and Bed-Stuy a short walk in either direction. Cafe con Libros is at the corner of Rogers Avenue, Rue Dix is a block away, and the Brooklyn Museum, Botanic Garden and Brooklyn Children's Museum are all within about 15 minutes on foot. I live in Crown Heights, and the 4 and 5 express trains are speedy to reach major commuting destinations. I take the shuttle with my kids for easy access to the Lefrak Center and Smorgasburg in Prospect Park.

The S shuttle at Park Place, about a 5-minute walk
The 2, 3, 4 and 5 at Franklin Avenue, or the 3 at Nostrand Avenue, about 8 minutes on foot
The A and C at Nostrand Avenue, about 10 minutes
Brower Park and the Brooklyn Children's Museum, a short walk away

Katie's Take

I track every new development in Brooklyn, and here's how this one compares: 701 Prospect Place is the largest Crown Heights condo selling right now, and at about $1,390 a square foot across its sales it's also the priciest per foot, above 598 Sterling Place and the recently sold-out 820 Classon Avenue. It has moved more slowly than the smaller buildings nearby, and the one-bedroom price cuts tell me the sponsor is working to finish the last homes. If you want an elevator, private outdoor space and parking in Crown Heights, very few buildings offer all three, and a sponsor in sell-out mode is usually the easiest one to negotiate with.