A long-stalled corner of the Prospect Heights and Crown Heights border is suddenly back in play. A trio of developers has quietly closed on a vacant assemblage at 962 Pacific Street and neighboring 863 Dean Street, grabbing a key site inside the Atlantic Avenue rezoning zone that locals have been arguing over for years.
The deal hands Avery Hall Investments, the Brodsky Organization and Monadnock Construction control of a prominent build site in the Atlantic Avenue Mixed-Use Plan area. Neighbors who once battled a previous private proposal for the block have watched the land sit untouched ever since. Now the new joint venture says it will pursue a mixed-use project that lines up with the city’s updated zoning rules. It is the first major private acquisition explicitly tied to the Atlantic Avenue Mixed-Use Plan since the rezoning moved through the city in 2025.
As detailed by The Real Deal, Avery Hall, Brodsky and Monadnock have now closed on both parcels. The 16,500-square-foot Dean Street lot reportedly traded for about $16 million, according to the Marcus & Millichap broker who marketed it, and the listing drew more than 15 offers. Maxim Capital Group provided the acquisition loan, and Monadnock is lined up as general contractor on the project, according to sources cited by The Real Deal. Avery Hall principal Brian Ezra declined to share the purchase price for the larger Pacific Street site.
How the purchase ties into Atlantic Avenue
The properties sit squarely inside the Atlantic Avenue Mixed-Use Plan, a 21-block rezoning the City Council approved in May 2025 that clears the way for thousands of new homes and major streetscape upgrades, according to the New York City Council. The plan is expected to add roughly 4,600 housing units and unlock hundreds of millions of dollars in public spending on parks, pedestrian safety and other neighborhood improvements, as reported in coverage of 4,600 new homes to rise in Brooklyn. By planting a flag on these lots, the developers get to use the new framework exactly as City Hall intended.
The Pacific Street site already has some political history. Former owner Nadine Oelsner once pushed a roughly 150-unit project there with a child care center and manufacturing space. That plan was ultimately blocked by Councilmember Crystal Hudson as the city shifted toward a comprehensive, corridor-wide rezoning instead, according to The Real Deal. The earlier proposal quickly became a neighborhood flashpoint over how, and how much, to build along the Atlantic Avenue corridor.
What the purchase could mean for local housing and jobs
The new ownership team says it is aiming for a mixed-use project that matches the contours of the rezoning, but so far has not released unit counts, design details or renderings. Under the Atlantic Avenue plan, any new development must comply with the city’s Mandatory Inclusionary Housing rules and the community benefits hammered out during the ULURP process. The City Council also secured more than $200 million in commitments for parks, infrastructure and tenant protections as part of the rezoning package, so locals will be watching closely to see how this project plugs into those promises.
Key questions still on the table: how many apartments will be income-restricted, what the split between market-rate and affordable units looks like, and how much ground-floor commercial or light-industrial space makes it into the final design. The answers will go a long way toward determining whether community advocates and elected officials view the project as a win or another missed opportunity on a high-profile block.
All three main players already know their way around Brooklyn construction sites. Avery Hall has spent the past few years buying and repositioning stalled Crown Heights properties, and Brodsky has teamed up with Avery Hall on larger projects across the borough, according to reporting in the Brooklyn Eagle and information on the Brodsky Organization website. With Monadnock set as general contractor and Maxim Capital on the loan, the assemblage now moves from chess piece to active project, heading into a permitting and design phase that will stretch for months and come with the usual mix of community meetings, city filings and very close neighborhood scrutiny.
