The Real Deal New York

Brooklyn’s “best-kept secret” now on developers’ radar

Low-key Prospect Lefferts Gardens suddenly attracting interest from high-profile builders
March 14, 2014 11:50AM

Builders are starting to take notice of the quiet Brooklyn neighborhood of Prospect Lefferts Gardens for its development potential.

Currently, 10 new projects are in the pipeline for the leafy neighborhood, which residents often refer to as “Brooklyn’s best-kept secret.” The Flatbush nabe hasn’t seen substantial development since the early 1960s when two mid-rise rental towers dubbed Patio Gardens went up at 580-590 Flatbush Avenue, the New York Times reported.

But the enclave’s relaxed attitude about zoning, along with its proximity to public transportation and relatively cheap real estate prices, are now attracting developers to the area, according to the article. The area also appeals to families priced out of Park Slope.

The Chetrit Group and Clipper Equity are just starting sales this spring of a 119-unit apartment building at 123 Parkside Avenue, where the smallest units are almost $2,000 a month. Other developers are building even more: Hudson Companies is developing a 23-story, 254-unit mixed-use building at 626 Flatbush, as The Real Deal reported in February 2013. [NYT]Angela Hunt