A development site within Brooklyn’s Atlantic Avenue Mixed-Use Plan has changed hands, as Ariel Property Advisors arranged the $21 million sale of a corner assemblage in Prospect Heights. The property spans 566 Grand Ave. and 836 Dean St., delivering a combined approximately 86,065 buildable square feet. The transaction reflects pricing of roughly $244 per buildable square foot.
The sale involved a long-term owner that chose to dispose of the site after holding it for an extended period. Ariel Property Advisors represented the seller, with partner Sean R. Kelly leading the assignment alongside associate director Nicole Daniggelis and director Stephen Vorvolakos. The buyer is Haussmann Development, led by principals Josef Goodman and Jake Sokol.
Located at a prominent corner in Prospect Heights, the site offers the purchaser a scaled development opportunity within a changing corridor. The property sits inside the Atlantic Avenue Mixed-Use Plan area, a major rezoning initiative that was approved in May 2025. The plan is intended to facilitate the construction of approximately 4,600 new homes across the broader corridor.
Kelly noted that the Atlantic Avenue rezoning is helping to establish a new development corridor in this part of Brooklyn, which continues to experience strong residential demand. He pointed to the site’s significant scale, corner positioning, and inclusion in the rezoning area as key attributes for Haussmann Development. The buyer gains the ability to participate in the ongoing transformation of Prospect Heights as well as the wider Atlantic Avenue corridor.
The Atlantic Avenue Mixed-Use Plan aims to reshape a stretch of Brooklyn by encouraging new housing and mixed-use projects. By delivering additional development capacity and planning clarity, the initiative has created a framework for developers and investors to pursue larger-scale projects. The sale of 566 Grand Ave. and 836 Dean St. underscores investor interest in sites that align with this framework and benefit from increased residential entitlements.
While specific project plans for the site were not disclosed, the transaction highlights the value that buyers are placing on buildable square footage within recently rezoned areas. For Haussmann Development, the acquisition consolidates a sizable footprint in a neighborhood positioned for further growth under the Atlantic Avenue Mixed-Use Plan. For the seller, the deal monetizes a long-held position as the corridor enters a new phase of investment and development activity.
