--- title: "701 PROSPECT Place #502, New York City, NY 11216" description: "701 PROSPECT Place #502, New York City, NY 11216 — Single Family Brownstone in Crown Heights, Brooklyn, NY. Last Sold Price $1,895,000. Sold on 8/13/2026. 3 bed, 2 bath, 1,294 sqft" url: "https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11216/701-prospect-place-502-ny-11216" source: "Real Estate Rebate Team" status: "Closed" --- # 701 PROSPECT Place #502, New York City, NY 11216 Single Family Brownstone in Crown Heights, Brooklyn, NY **Sponsor Residence** Courtesy of Serhant ## At a Glance - **Last Sold Price**: $1,895,000 - **Status**: Sold on 8/13/2026 - **Beds**: 3 - **Baths**: 2 - **Sqft**: 1,294 - **Common Charges**: $848 / mo - **Price per Sqft**: $1,464 - **Brokerage Fee**: Share Eligible This listing was successfully closed and is no longer active on the market. [Planning to sell? Contact Régis Roumila](https://realestaterebatesnewyork.com/contact) ## Photos (10) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 1 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/a903a875-acfe-4964-874a-b3b5d5b9e805.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 2 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/bedd931b-56a5-48a3-b547-868a1a5c1f5f.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 3 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/305f9608-1b96-4425-a962-cfd79bdbd184.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 4 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/62b70ae0-e35a-49df-b631-aa5bc1d19b36.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 5 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/371de154-5ae0-4a4b-af4f-36c085483c15.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 6 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/2da2e1e6-eb12-4a2b-bc11-69ad03acf91a.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 7 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/59dd8c19-8086-458f-8be5-45a2a892a818.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 8 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/bf15fc09-7b10-4e1d-a8f4-e8e4370da4ce.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 9 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/6549b910-171c-4a2f-a8fc-06058b593389.jpg) ![701 PROSPECT Place #502, New York City, NY 11216 — photo 10 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/dc79b33d-609d-4267-8124-df04a534acf6.jpg) ## Property Overview SPECIAL EARLY SPRING INCENTIVE: FOR CONTRACTS SIGNED BY MAY 31, 2026, SPONSOR WILL PAY 2 YEARS OF COMMON CHARGES OPEN HOUSE IS BY APPOINTMENT ONLY, PLEASE CONTACT LISTING BROKER TO SCHEDULE The Residences at Prospect Place. Elevated Boutique Living in the Heart of Brooklyn. Introducing The Residences at Prospect Place, where private outdoor spaces in every unit, soaring ceilings, floor to ceiling picture windows, designer finishes, and garage parking create bespoke homes designed for a truly luxurious lifestyle. Life at 701 Prospect Place puts you in the epicenter of it all. Situated a block away from Franklin Avenue which offers an array of Michelin Rated Restaurants, gourmet take out, and chic cocktail bars and local shops. Ideally located blocks from Brooklyn's cultural hub with the Brooklyn Botanic Garden, The Brooklyn Museum, Brooklyn Children's Museum, Prospect Park and the historic and vibrant brownstone Brooklyn neighborhood where Prospect Place calls home. Introducing this bespoke, brand new spacious 3-bedroom, 2-bathroom condo with a large eastern facing private terrace which invites a seamless indoor-outdoor lifestyle. This stunning home features massive floor-to-ceiling windows that let in abundant eastern light in the open-plan living room, dining room, and kitchen, while 7-inch oak floors imported from Spain and soaring 10-foot ceilings. This designer home blends a thoughtful, sun-flooded layout with a beautiful selection of luxurious, refined finishes. The chef's open kitchen boasts spacious honed Bria Elephantino quartz countertops, custom walnut-veneered Cucine cabinetry, an elegant Hansgrohe faucet, a Faber Inca oven hood, and a suite of high-end appliances including a Bosch dishwasher, Bertazzoni cooktop and oven, and a Fisher & Paykel refrigerator. All three bedrooms feature floor to ceiling eastern facing windows and face the terrace. The king-size primary suite leads out to the terrace and features a walk-in closet and a pristine en-suite bathroom with large-format Prissmacer porcelain tiles, a custom Lucena Bath double vanity, a mirrored medicine cabinet, Artos fittings, and a walk-in rainfall shower. The second and third bedrooms have reach-in closets, and the second bathroom has a deep Duravit soaking tub with shower. Central heating and cooling and an LG washer and dryer tower are also included. The Residences at Prospect Place is Crown Heights' newest boutique condominium. The Residences at Prospect Place has a common rooftop terrace with spectacular views for alfresco meals, entertaining, sun lounging, and more. Private garage parking spaces and two private rooftop cabanas are also available for purchase. Moments from Atlantic Avenue, Prospect Heights, and Barclays Center, the neighborhood offers an unparalleled blend of energy and charm. Convenient access to the A, C, 2, 3, 4, and 5 subway lines ensures a seamless connection to the rest of the city. All renderings are for illustrative purposes only. THE COMPLETE OFFERING TERMS ARE IN AN OFFERING PLAN AVAILABLE FROM SPONSOR. FILE NO. CD24-0334 PROSPECT PLACE BROOKLYN LLC, 533 FLATBUSH AVENUE, SUITE 313, BROOKLYN, NY 11225. ## Property Details - **Property Type**: Condominium - **Beds**: 3 - **Baths**: 2 - **Rooms**: 6 - **Sqft**: 1,294 sqft - **Stories**: 8 - **Year Built**: 2025 - **Price per Sqft**: $1,464 - **Common Charges**: $848 / Monthly - **Listed On**: Oct 1, 2025 - **Days on Market**: 341 Days ### Residence Features - Central Air - Building Other - Washer Hookup - In Unit - Balcony - Building Roof Deck - Private Outdoor Space Over 60 Sqft - High Ceilings - Dishwasher - City ## Sales Evidence ### Recent closed sales 6 apartments at 701 PROSPECT Place have recorded sales since September 2021, the most recent for $1,895,000 in August 2026. Prices are the figures recorded with the City, not asking prices. | Unit | Beds | Sq Ft | Sold Price | $/ft² | Sold | Source | | --- | --- | --- | --- | --- | --- | --- | | 502 (Apartment) | 3 | 1,294 | $1,895,000 | $1,464/ft² | August 13, 2026 | MLS | | 602 (Apartment) | 3 | 1,326 | $2,155,000 | $1,625/ft² | July 1, 2026 | MLS | | 201 (Apartment) | 2 | 994 | $1,445,000 | $1,454/ft² | June 26, 2026 | MLS | | 501 (Apartment) | 2 | 994 | $1,454,073 | $1,463/ft² | June 4, 2026 | City record · MLS | | 101 (Apartment) | Studio | 429 | $495,000 | $1,154/ft² | June 1, 2026 | City record · MLS | | 503 (Duplex) | 2 | 1,249 | $1,784,000 | $1,428/ft² | May 19, 2026 | City record · MLS | Every row is a recorded transaction, including ancillary spaces such as storage and staff rooms where they were sold separately. Those are excluded from the benchmark below. ### How this price compares The median closed price for comparable condo three-bedroom sales in Crown Heights is $2,100,000, based on 19 sales between October 2024 and June 2026. This home is asking $1,895,000, $205,000 below that median. The middle half of those sales closed between $1,672,500 and $2,377,500. - **Median closed price**: $2,100,000 - **Middle half**: $1,672,500 – $2,377,500 - **Based on**: 19 condo three-bedroom sales in Crown Heights - **Period**: October 2024 – June 2026 - **Median $/ft²**: $1,407/ft² Across the 18 of these sales with a published asking price, the median closed at 98.4% of what it originally asked. 61% of them closed below the original ask. This building has not had enough comparable sales of its own in the period to support a median, so the benchmark is drawn from Crown Heights instead. ### How these sales were negotiated - **Sold vs original ask**: 98.4% of the original ask - **Closed below ask**: 61% of 18 sales - **Listed → in contract**: 104 days (about 15 weeks) - **In contract → closed**: 62 days (about 9 weeks) Across the 18 of these sales with a published asking price, the median closed at 98.4% of what it originally asked. 61% of them closed below the original ask. Half of these homes were in contract within 104 days (about 15 weeks) of coming to market, based on the 19 with a recorded listing date. Once a deal was agreed, closing took a further 62 days (about 9 weeks), based on the 19 with both dates recorded. These are two separate periods measured on different clocks — time to find a buyer, and time from agreed deal to closing. They are medians of different sets of sales and do not add together into a single "days on market" figure. Based on 19 condo three-bedroom sales in Crown Heights, October 2024 – June 2026. Each figure counts only the sales that recorded the dates it needs, which is why the denominators differ. Sale prices are the consideration recorded with the City in ACRIS, and each sale is dated by the day the City recorded it. A closing date reported to the MLS typically falls one to two weeks earlier. Recorded sales describe what has already happened and are not an appraisal, a valuation, or an estimate of what this home will sell for. [See every recorded sale at 701 PROSPECT Place](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/701-prospect-place) ## Price and Property History for 701 PROSPECT Place, Unit 502 Review the recorded listing activity for 701 PROSPECT Place, Unit 502, including asking-price changes and prior market dates. - **Last sold**: $1,895,000 on August 13, 2026 | Date | Price | Listing event | | --- | --- | --- | | August 13, 2026 | $1,895,000 | Sold | | May 27, 2026 | $1,895,000 | Entered contract | | October 1, 2025 | $1,895,000 | Listed for sale by Serhant | ## About The Building ### 701 PROSPECT Place Crown Heights · Condominium 701 PROSPECT Place, Brooklyn, NY 11216 A building in Crown Heights, currently featuring 8 active listings. - **Year Built**: 2025 - **Total Units**: 8 - **Floors**: 8 [View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/701-prospect-place) ### Available Residences — For Sale (8) | Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [502](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-502-ny-11216) | 3 | 2 | 1,294 sqft | $1,464 | $1,895,000 | Serhant | Oct 1, 2025 | 340 days | | [303](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-303-ny-11216) | 2 | 2 | 1,004 sqft | $1,419 | $1,425,000 — In contract | Serhant | Oct 1, 2025 | 340 days | | [301](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-301-ny-11216) | 2 | 2 | 994 sqft | $1,383 | $1,375,000 | Serhant | Oct 1, 2025 | 340 days | | [404](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-404-ny-11216) | 1 | 1 | 835 sqft | $1,407 | $1,175,000 | Serhant | Oct 1, 2025 | 340 days | | [302](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-302-ny-11216) | 1 | 1 | 745 sqft | $1,309 | $975,000 | Serhant | Feb 18, 2026 | 200 days | | [203](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-203-ny-11216) | 2 | 2 | 1,004 sqft | $1,489 | $1,495,000 — In contract | Serhant | May 29, 2026 | 100 days | | [202](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-202-ny-11216) | 1 | 1 | 745 sqft | $1,201 | $895,000 — In contract | Serhant | Jun 25, 2026 | 73 days | | [304](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11216/701-prospect-place-304-ny-11216) | 1 | 1 | 835 sqft | $1,311 | $1,095,000 | Serhant | Jun 25, 2026 | 73 days | ## Estimated Monthly Payment **$10,430 / month**, assuming a 20% down payment ($379,000), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three. - **Principal & Interest**: $9,582 - **Common Charges**: $848 Estimates only. Actual payments may vary. Confirm terms with your lender. ## Crown Heights Overview of Crown Heights [Explore Crown Heights](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/crown-heights) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods) ### Nearby Crown Heights - [Prospect Heights real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/prospect-heights) - [Prospect Park real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/prospect-park) - [Brownsville real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/brownsville) - [East Flatbush real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/east-flatbush) ## Related Links - [701 PROSPECT Place — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/701-prospect-place) - [Crown Heights neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/crown-heights) - [Estimate your Buyer Commission Share and closing costs](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) - [Contact Régis Roumila](https://realestaterebatesnewyork.com/contact) --- > RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. > All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.