Developer Plans Luxury Residential After Closing On Former Senior Facility at 1 Prospect Park West, Park Slope

1 Prospect Park WestPresent-day 1 Prospect Park West. Photo by Christopher Bride for PropertyShark.

By: 7:00 am on October 12, 2016

Sugar Hill Capital Partners has closed on the purchase of the vacant nine-story, 169,410-square-foot former senior residential facility at 1 Prospect Park West, located on the corner of Plaza Street West in Park Slope, for $84 million. The developer plans to convert the building, called Prospect Park Residence, into luxury residential units. It wasn’t specified whether they will be rentals or condominiums. Since Sugar Hill entered into contract for the property in 2014, a number of controversial evictions have taken place, some ending in buyouts and settlements, The Real Deal reported.

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2 Comments on "Developer Plans Luxury Residential After Closing On Former Senior Facility at 1 Prospect Park West, Park Slope"

  1. David | October 12, 2016 at 7:09 am |

    Present-day is not still luxury residential, and next to going on convert with color/glass/interiors. (with nine-story)

  2. TOM | October 12, 2016 at 4:49 pm |

    Bring back the Knights of Columbus!

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