Permits have been filed for a five-story mixed-use building at 263 Prospect Avenue, site of the former Grand Prospect Hall reception hall in Greenwood Heights, Brooklyn. Located between Fifth and Sixth Avenues, the lot is one block from of the Prospect Avenue subway station, serviced by the R train. George Rigas is listed as the owner behind the applications. The reception hall sold for $22.5 million to Gowanus Cubes, an LLC operated by Angelo Rigas.
The proposed 50-foot-tall development will yield 140,420 square feet designated for residential space. The building will have 147 residences, most likely condos based on the average unit scope of 955 square feet. The masonry-based structure will also have a cellar, a 30-foot-long rear yard, and 180 enclosed parking spaces.
Hill West Architects is listed as the architect of record.
Demolition permits were filed last year. An estimated completion date has not been announced.