Site of stalled Prospect-Lefferts Garden condo on the market

Developer Henry Herbst has all but dropped his plans for Park Tower, the glassy, 23-story condominium once slated for Prospect-Lefferts Garden’s Lincoln Road, Brownstoner reported. The developer is now looking for a buyer or a joint venture partner for the vacant lot, which has approved plans for 86 residential units and retail space. “We completely acknowledge that the award-winning plans are ambitious for today’s market conditions and may have to be amended to accommodate a more modest rental project,” a broker for the building said, adding that such a rental building could be built by 2013 or 2014. The 88,000-square-foot, Gilman Architects-designed project was originally intended to contain 80 condos, a 17,000-square-foot rooftop terrace overlooking Prospect Park and ground-floor shopping. [Brownstoner]