Rendering of 484 Sterling Place via Titan Engineering
Prospect Heights is renowned for its beautiful brownstones with large backyards, pedestrian-friendly streets, and a bevy of transportation options that provide easy commutes to Manhattan and other parts of Brooklyn. A peppering of light industrial buildings is sprinkled throughout the neighborhood, especially on blocks closer to Atlantic and east of Washington Avenue. Over the years, as the neighborhood continues to gentrify, developers have made easy pickings of these typically underbuilt sites. The latest example comes in at 484-490 Sterling Place where William Caleo's Brooklyn Home Company is constructing a seven-floor, 25-unit condominium that replaces a pair of single-floor industrial buildings that were acquired for $20 million in 2016 and 2017.
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Google streetview of 484 Sterling Place
484 Sterling rises two blocks north of the beloved Brooklyn Museum and its namesake subway station serving the 2 and 3 trains (the 4 and 5 lines can be had nearby at the Franklin Avenue). Sited just off Washington Avenue, the project is in the vicinity of several recently-finished developments that include the luxury rental 500 Sterling Place, renting from $1,900/month, and the 8-unit condo 476 Sterling Place. Other recent builds nearby include On Prospect Park, situated off of Prospect Park's main gate, The Museum House, and 856 Washington Avenue, which selling two-bedrooms from $1.2 million. The neighborhood's largest scheme by far is Pacific Park (Brooklyn Atlantic Yards), a 16-building master plan located several blocks southwest of this site.
484 Sterling Place is being designed by Robert Litchfield Architect. A rendering from Titan Engineering, the project's general contractor, shows the 40,000-square-foot, 72-foot-tall project will be fairly nondescript in appearance and appears to channel the block's semi-industrial beginnings. It will be clad in red brick with a faintly rusticated first floor painted in black. The elevatored building is close to the crest of Brooklyn's highest point and top-floor apartments will benefit from skyline views.
Titan notes the selected finishes will reflect the extraordinary market the building is located in. Several units will have private terraces and owners will have access to 14 on-site parking spaces and a landscaped garden. A small community facility will share the building's ground and cellar levels. Titan estimated the project to finish in fall 2020 though COVID-19 may have pushed back the delivery. An offering plan has yet to be filed.
Condo closing prices in Prospect Heights compared to the Brooklyn median
Closing sales prices for condos in Prospect Heights currently come in at a median of $1,065/ft2, off their 2018 peak of $1,339/ft2. CityRealty listings show there are 116 condo, co-op and townhouses for sale in the neighborhood with the median listed price of a condo st $1.568M ($1,328/ft2,
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