701 Prospect Place
New Vision at 701 Prospect Place
Located at 701 Prospect Place (between Rogers & Bedford Avenues), The Residences at Prospect Place is redefining boutique luxury living in Crown Heights. Developed by Kingsdel Real Estate, this mid-rise project combines clean, contemporary lines with contextual sensitivity to the neighborhood’s architectural rhythm, designed by Studio SC.
The location is ideally situated on a quiet block, yet conveniently near busy corridors for easy transit and access to dining. The best of Brooklyn is right on your doorstep: there is a grocery store on the corner of Prospect Place and Nostrand Ave. A coffee and book store- Cafe con Libros- on Prospect Place and Rogers Ave. Cafe Rue Dix is one block away, and Kingstown Wine Bar is three blocks down.
Residences & Interiors: Where Design Meets Comfort
New Development units are move-in ready and top-of-the-line in every neighborhood. As a prospective buyer, these are both enticing design features and modern conveniences like central air and washer & dryers in the unit. Each unit is engineered for maximum natural light, spatial flow, and refined materials. Some key interior highlights:
Ceiling Height & Windows: Soaring ceilings and floor-to-ceiling picture windows bring in an abundance of daylight.
Outdoor Space: Every home includes a private balcony or terrace — a rare feature in Brooklyn boutique developments.
Flooring & Finishes: 7-inch oak floors (imported from Spain), custom walnut cabinetry, and honed quartz countertops.
Appliances & Fixtures: Bosch, Bertazzoni, Faber, Fisher & Paykel, Hansgrohe, and Duravit among the curated brands.
Comfort & Systems: Central heating & cooling, in-unit LG washer/dryer towers.
Amenities & Shared Spaces
701 Prospect Place doesn’t just offer beautiful homes — it delivers a thoughtful resident experience:
Rooftop Terrace: A communal rooftop deck with sweeping skyline views, ideal for lounging or entertaining.
Private Cabanas: Two private rooftop cabanas available for separate ownership.
Garage Parking: Private garage parking in this kind of neighborhood is a premium amenity.
Elevators & Secure Access: Full elevator access and modern security systems (expected).
Pricing, Units & Launch Info
The following details are current as of October 2025; always verify for updates:
18 total units in a 7-story building
1-bedroom units: $995,000 – $1,175,000
2-bedroom units: $1,375,000 – $1,425,000
The offering launched in September 2025 via SERHANT New Development. These prices are pretty in line with current new developments in the area. A similar building at 462 Saint Marks Avenue had prices in line with this and is now almost completely sold out.
New Development Closing Costs
One consideration regarding new development is that closing costs can be more expensive than a resale. In a sponsor sale (the structure of new development), the buyer pays the sponsor’s transfer taxes. These taxes are likely between 1% and 2%. They can be negotiated depending on market considerations, but it’s important to have this in mind (and work with a great agent who can educate you).
Not sure about buyer closing costs? Please read my post here for an overview of the various costs involved.
Why Crown Heights Is the Place to Be
The building sits in Crown Heights, within reach of Prospect Heights, Bed-Stuy, and the cultural heart of Brooklyn. Nearby highlights include:
Transit Access: A, C, 2, 3, 4, and 5 subway lines nearby. 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.
Culture & Parks: A short walk to Prospect Park, Brooklyn Museum, Brooklyn Botanic Garden, Brower Park, and the Brooklyn Children’s Museum.
Local Retail & Dining: Franklin Avenue blocks away — a mix of Michelin-rated restaurants, cafés, boutiques, and nightlife
Walkability & Vibe: Strong walk and bike scores, and a growing energy in Crown Heights’ retail and residential revitalization
Because of its central location in a well-connected, culturally rich area, 701 Prospect Place benefits from both local character and accessibility.
Market & Neighborhood Impact
701 Prospect Place arrives at a moment when Brooklyn’s residential market is seeking boutique, design-forward options in established neighborhoods. Its impact:
Competitive Edge: Compared to larger, generic developments, this boutique model with private outdoor space gives it a distinctive edge.
Neighborhood Reinforcement: Adds architectural interest and modern density without overwhelming the local scale.
Price Benchmarking: These units may set new price per square foot standards for Crown Heights, especially for luxury condos.
Lifestyle Signal: Reflects a continued shift toward combining urban convenience with quality-of-life amenities (outdoor space, walkability, transit) in Brooklyn.
Ready to Learn More? Want to schedule a showing?
If 701 Prospect Place caught your eye — or if you’re exploring similar developments in Brooklyn — I’m here to help.
Katie Johnson
Decode Real Estate