474 Prospect Avenue is a new five-condo building planned for the South Slope, near the Windsor Terrace line and about five minutes from both Prospect Park and the F and G at 15th Street-Prospect Park. It replaces an older three-family house on the lot. The sponsor is Troutbrook Development.
Where Things Stand
The offering plan for 474 Prospect Avenue was submitted to the New York State Attorney General on September 10, 2026, and is awaiting acceptance. No homes are for sale yet, there is no public pricing, and reservations can't be taken. Across the 55 Brooklyn projects I've tracked from filing to acceptance, most were accepted 5 to 9 months after filing (about 7 months is typical), which points to acceptance between roughly February and June 2027. Join my early access list below and you'll hear about pricing and launch timing before it reaches StreetEasy.
What We Know So Far
Five condos in a new building
About 5,399 square feet of floor area on the building permit, so homes likely average about 1,080 square feet
Likely two-bedroom homes (the final mix isn't public yet)
A projected sellout of $11,525,000 listed with the filing, an average of about $2.3 million per home
No elevator on record
Offering plan filed: September 10, 2026
What's next: Attorney General review typically takes several months, and pricing becomes public once the plan is accepted
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
Five homes in a new building gives you new systems and new layouts with only a handful of neighbors, a combination that is hard to find in a part of Brooklyn made up mostly of older rowhouses. At about 1,080 square feet on average, these will likely be comfortable two-bedrooms rather than large family homes. Finishes, outdoor space and common charges will be public once the plan is accepted.
Park Slope Highlights
Park Slope is the Brooklyn neighborhood most people picture when they picture Brooklyn: brownstone-lined blocks, Prospect Park at your doorstep, and the shops and restaurants of 5th and 7th Avenues. This corner of the South Slope sits right where it meets Windsor Terrace, so the park is a short walk and the blocks have a quieter, more residential feel.
The F and G at 15th Street-Prospect Park, about a 5-minute walk
The F and G at 7th Avenue, about 13 minutes
Prospect Park, about a 5-minute walk
Katie's Take
I track every new development filing in Brooklyn, and 474 Prospect Avenue is aiming higher than its neighbors: its projected sellout is close to that of 598 16th Street, five homes a few blocks away, but spread over homes that are likely about a third smaller. That puts the plan's likely pricing per square foot above what the South Slope has seen so far, where 270 14th Street has sold three of four homes at about $1,449 a square foot. Acceptance is likely between February and June 2027, and the price list will show whether the market is ready for that number this close to the park.
Your next Brooklyn home may be closer than you think. Let's talk.
Explore Similar Developments
598 16th Street · Windsor Terrace