Sold Out: Four Condos at 582 Park Place in Crown Heights

Sold Out

Nov 1

582 Park Place is a four-condo conversion of a four-story brick Federal-style building on Park Place between Classon and Franklin Avenues in Crown Heights, close to the Prospect Heights line. All four two-bedroom homes have closed, about three months after sales launched.

Where Things Stand

All four homes at 582 Park Place have closed as of November 1, 2026. The offering plan was filed in October 2025 and accepted on January 22, 2026. Sales launched on February 26, 2026, and the last contract was signed on June 3, 2026, about three months later. Across the five other Brooklyn projects of 2 to 6 homes I've tracked to a sellout, the typical one took about three months too, so this one sold right at the usual pace. The developer is Eilat Realty. Want to see upcoming projects by this sponsor? Reach out below.

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The Numbers So Far

As of November 1, 2026, from recorded sales:

Total sellout: about $6.47 million across four homes, about 6% below the $6.85 million projected in the offering plan
Residence 1: a lower duplex with two bedrooms and 2.5 baths, about 1,733 square feet and a private south-facing garden, sold for $1,896,000 (last asking $1,795,000)
Residences 2 and 3: two-bedroom, two-bath floor-throughs of about 1,212 square feet with north and south exposures. Residence 3 sold for $1,509,000 and Residence 2 for $1,513,688
Residence 4: a two-bedroom, two-bath home of about 1,180 square feet with a south-facing terrace and a private rooftop, sold for $1,547,000 (last asking $1,495,000)
Average price per square foot: about $1,225
Monthly costs: common charges plus taxes of about $1,135 to $1,643
Time to sell out: about three months from launch to last contract
Compared with other new development in Crown Heights: about $1,225 per square foot here, against about $1,321 at 598 Sterling Place, $1,183 at 820 Classon Avenue and $988 at 811 Classon Avenue

Example sales: Residence 1, the garden duplex, sold for $1,896,000, and Residence 4, with a terrace and private rooftop, sold for $1,547,000.

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

The conversion kept the brick facade and created four two-bedroom homes: a garden duplex, two floor-throughs and a top-floor home with a terrace and private rooftop. Each has oversized Pella windows, solid white oak floors, a kitchen with walnut and cream cabinetry, Statuario stone counters, a Bertazzoni gas range and Bosch appliances, radiant heated bathroom floors, a two-zone heat pump system and a washer and vented dryer. It's a walk-up. Before it launched, I toured 974 Bergen Street and 569 Saint Marks Avenue nearby, which offer comparable construction in the same general area.

Crown Heights Highlights

This corner of Crown Heights sits right at the Prospect Heights line, with brownstone and brick blocks, neighborhood favorites like Bong and Sofreh around the corner, and the Brooklyn Museum, Brooklyn Botanic Garden and Prospect Park a short walk south.

The Franklin Avenue shuttle at Park Place, about a 2-minute walk, with easy transfers to the C at Franklin Avenue and the B and Q at Prospect Park
The 2, 3, 4 and 5 at Franklin Avenue, about a 6-minute walk
The Brooklyn Museum, Brooklyn Botanic Garden and Prospect Park, all within about 10 minutes on foot

Katie's Take

I track every new development in Brooklyn, and here's how this one compares: 582 Park Place landed in the middle of the new Crown Heights condos I follow on price per square foot, and it sold out in about three months even though the total came in under the early plan estimate. Two-bedrooms with real square footage near the Prospect Heights line are what buyers in this part of Crown Heights keep asking me for, and this building had nothing but those, with the garden duplex going first. If that's your search, 598 Sterling Place is selling a few blocks away and is the closest match.