On Franklin Avenue between Sterling Place and St. Johns Place, plans call for a new eight-story building with 17 homes over ground-floor commercial space, a few minutes from the Brooklyn Botanic Garden and the 2, 3, 4 and 5 at Franklin Avenue. The developer, LE Capital NYC, has eight recorded condo buildings in Brooklyn, including 251 St. Marks Avenue, 114 Lexington Avenue and 166 Washington Avenue, and this is its first eight-story ground-up building.
Where Things Stand
The new building job was filed with the Department of Buildings on July 7, 2025, and is approved. Demolition was permitted on April 23, 2026, and foundation, excavation support, structural and mechanical permits were issued between September 17 and 25, 2026, so construction can begin. The site moved into an entity called 747 Franklin Condominiums LLC in June 2026, along with construction financing and a purchase of extra development rights from the lot next door. No offering plan has been filed with the Attorney General yet, so nothing is for sale and there's no pricing. Based on LE Capital NYC's past projects, these are likely to be condos, but nothing is confirmed until an offering plan is filed. Join my early access list below and you'll hear when the offering plan is filed.
What We Know So Far
17 homes across eight stories, with commercial space on the ground floor
About 26,700 square feet of total floor area including the cellar and commercial space, so homes will average under the roughly 1,570 square feet that simple math gives
Likely family-size layouts based on that size; the unit mix isn't public
Foundation and structural permits issued in September 2026
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.
A Closer Look at the Building
Every completed LE Capital NYC project I found is a recorded condo, and the company names its buildings the same way it did at 114 Lexington Avenue and 1015A President Street. At eight stories this will be one of the taller buildings on this part of Franklin Avenue, and its 17 homes make it the developer's biggest building after 114 Lexington. Finishes, outdoor space and amenities haven't been released.
Crown Heights Highlights
Franklin Avenue is Crown Heights' dining street, lined with restaurants, bars and cafes, and this stretch is a few blocks from the Brooklyn Botanic Garden, the Brooklyn Museum and Eastern Parkway.
The 2, 3, 4 and 5 at Franklin Avenue, about a 4-minute walk
The S shuttle at Botanic Garden, about 4 minutes
The Brooklyn Botanic Garden and Brooklyn Museum, about 5 minutes
Franklin Avenue restaurants right outside
Katie's Take
I track every new development filing in Brooklyn, and this one stands out because at 17 homes it's among the larger Crown Heights projects in my tracker, alongside 1151 Dean Street and 935 Eastern Parkway, and it's ground-up where most are conversions. Crown Heights new construction has been asking about $1,320 to $1,410 per square foot at 598 Sterling Place, 701 Prospect Place and 311 Eastern Parkway, so that's the range to watch here. With permits out, the next milestone is the offering plan filing.
Your next Brooklyn home may be closer than you think. Let's talk.
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