PROSPECT HEIGHTS — A new condominium project which is near completion in Prospect Heights has sold, according to Massey Knakal Realty Services Brooklyn.

The development, at 1570 Prospect Place, sold for $750,000 to a Brooklyn investor.

“The owner was unable to sell any of the units for almost a year and hired us to sell the entire building,� said Massey Knakal broker Waleed Cope, who represented the seller and found the buyer. He added, “The buyer intended on using the building as a rental building until the market turned. But at the last minute three of the units went into contract and the buyer was able to buy the building at a reduced price.�

The 28-foot-wide, 3,717-square-foot, four-story property, located between Buffalo and Ralph avenues, contains six two-bedroom units and one one-bedroom unit.

All of them have two bathrooms and outdoor space. Additionally, there are three parking spaces in the rear of the building, according to Cope.

“Some units are staged and ready to be shown,� said Cope, who said the property sold for $201.77 per square foot.

According to Department of Buildings documents, the previous owner and developer (also the seller) was James Agoglia, based in Richmond Hill; the architect was Robert J. Palermo of Corp. Design of America, a Brooklyn firm.

A two-story structure was demolished to make way for the new building.

© Brooklyn Daily Eagle 2008
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