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Big Park Slope Conversion Project is Sold

NEW YORK CITY—The asset, considered the largest building on Prospect Park West, reportedly is slated to become luxury apartments.

one prospect park west One Prospect Park West, the largest property on Property Prospect West, has been sold to Sugar Hill Capital Partners.

NEW YORK CITY—GlobeSt.com has confirmed that a large multifamily complex in Park Slope has been sold by Haysha Deitsch for $84 million. Located on the corner of Union Street and Prospect Park West in Brooklyn’s Park Slope neighborhood, the 169,410-square-foot property is called One Prospect Park West, or Prospect Park Residence.

The buyer, Sugar Hill Capital Partners, plans to convert the sprawling building into luxury residences, according to The Real Deal. The deal was brokered by TerraCRG. The Brooklyn-focused commercial real estate brokerage firm’s Ofer Cohen and Adam Hess handled the transaction.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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