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

Low-key Prospect Lefferts Gardens suddenly attracting interest from high-profile builders

TRD NEW YORK /
Mar.March 14, 2014 11:50 AM

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


Related Articles

arrow_forward_ios
Joseph Chetrit and 88-20 153rd Street (Credit: Getty Images, Google Maps)

Chetrit plans fifth apartment building at Jamaica hospital site

Clipper Equity's David Bistricer (inset) and the US Supreme Court (Credit: RealInsight and Getty Images)

US Supreme Court denies Clipper’s rent regulation petition

210 Clarkson Avenue (Credit: Google Maps)

Prospect-Lefferts Gardens is getting a new 165-unit apartment building

Joseph Chetrit and 98 Montague Street in Downtown Brooklyn (Credit: Getty Images and Google Maps)

Chetrit Group lands $112M refi for Hotel Bossert project

Joseph Chetrit and a rendering of 150-13 89th Avenue (Credit: Getty Images)

Chetrit nabs $200M refi for huge Jamaica project

Renderings of Brookfield's Bankside in the South Bronx (Credit: ArX Solutions)

This is what Brookfield’s South Bronx megaproject will look like

Chetrit buys national portfolio of 10K+ rental units

Chetrit buys national portfolio of 10K+ rental units

Joseph Chetrit and 500 Metropolitan Avenue

Chetrit Group lands $133M refi for Williamsburg resi, hotel project

arrow_forward_ios
Loading...