Slowdown hits Prospect Heights

October 10, 2008 08:56AM

Following a wave of investment in Prospect Heights, with build-outs and renovations sprucing up brownstones and other apartment buildings since the early 1990s, residents say development and sales activity there have been stalling lately. Home sales in the area have dropped by a third in the last year, according to Trulia, and the average listing price in the three weeks ending October 1 fell 2.6 percent, to $688,000. This compares to an increase borough-wide and in neighboring Park Slope over that period.

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