We’ve been keeping a close watch on 475 Sterling Place for the past year (though not as close a watch as this guy). As we’ve mentioned before, we think this area on the border between Prospect Heights and Crown Heights will be one of the most fertile spots for residential development in Brooklyn in the coming years. According to the builder’s website, the developer is CPC Resources, the for-profit arm of the Community Preservation Corporation and the same group that is developing the Domino Sugar Factory in Williamsburg. The 45-unit building will have 750-square-foot one-bedrooms starting at $399,000; there are also two-bedroom apartments ranging in size from 924 to 1,125 square feet and price from $489,000 to $615,000. If the interiors are decent, we suspect there will be demand at these prices. We’ll know about those interiors soon enough, as the first showing is at an open house on Saturday Sunday from 1 to 4 p.m. (Full disclosure: An ad for this development will be going up on the site in a few days.)
Time Lapse: 475 Sterling Place [Brownstoner] GMAP P*Shark
Development Watch: 467-487 Sterling Place [Brownstoner]