THE CONDO BOOK PROJECT

Residences At Prospect Place

701 Prospect Place, Brooklyn, NY 11216

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Overview

Units
18 residential · 9 parking
Subway
5 min walk to Park Pl SNostrand Av A C, 8 min
Principals
Nigel Boyden
Average $/sf
$1,429Homes in Schedule A, as first offered
Common charges
$260–$960 a monthSponsor's first-year estimate in Schedule A, July 1, 2025 - June 30, 2026
Offering price
$25.6 million total

The sponsor of record is Prospet Place Brooklyn LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 357 pages. The sponsor has filed 3 amendments, the latest in July 2026. The nearest other condo plan on file is 608 St. Marks Avenue Condominium, next door.

Plan CD240334 · New · accepted May 30, 2025 · AG record ↗

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FigureThis building1817 Classon219 units · 0.4 miaccepted 2026755 Washington310 units · 0.5 miaccepted 2025
Common ChargesPer Square Foot / Month$0.65Below peers$0.74$0.72
Average Offering PricePer Apartment$1.35MIn line$1.37M$1.26M
Average PricePer Square Foot$1,429Below peers$1,459$1,484
Property TaxesPer Square Foot / Month$1.14Highest$0.70$0.68
Average Unit SizeSquare Feet942 SFLarger938 SF850 SF

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Unit mix, closings, budgets, finishes and the team, against 817 Classon and 755 Washington, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed33% of the homes in Schedule A6 of 18
Closing prices vs. Schedule A6 homes: $9,232,732 at closing against $9,030,000 in Schedule A (p. 63)+2.2%
Average closing price6 homes, on their Schedule A square feet$1,469 / SF
Closingsfirst and latest recordedMay 19, 2026 – Aug 13, 2026

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 6 closings
HomeRecordedClosing priceSchedule ADifference
503May 19, 2026$1,784,000$1,795,000 p. 63−0.6%
101Jun 1, 2026$495,000$525,000 p. 63−5.7%
501Jun 4, 2026$1,454,073$1,425,000 p. 63+2%
201Jun 26, 2026$1,446,095$1,395,000 p. 63+3.7%
602Jul 1, 2026$2,155,000$1,995,000 p. 63+8%
502Aug 13, 2026$1,898,564$1,895,000 p. 63+0.2%

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Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
Prospet Place Brooklyn LLC
Principals
Nigel Boyden
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
S3 Capital

From our research: Do NYC Developers Rehire the Same Firms?

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