In Crown Heights, on a quiet tree-lined block between Franklin and Classon avenues, rises the imposing red-brick façade of 564 St. Johns Place. Heritage Equity Partners is the developer and picked up the property in 2014 through a $24 million deal with the Rabsky Group. The 136,000 sq.ft.-project will bring nearly 200 rentals to the rapidly-gentrifying area. Toby Moscovits’ Heritage Equity Partners also has office buildings planned for 215 Moore Street in Bushwick and 25 Kent Avenue in Williamsburg.
The productive office of Karl Fisher are the designers and building permits were first filed way back in 2013. Since then, it appears the design has been dramatically altered, evolving from an oversized French chateau to a mighty faux-factory building. The nearly-finished product flaunts an intricate brick skin punctuated by operable casement windows. Two sections of the street-facing elevation rise taller and crenulate with pairs of bay windows.
564 St. John's Place as mid-July; CityRealty
THe building sides the Franklin Avenue shuttle to the east
There will be 193 apartments in all, comprised of 19 studios, 136 one-bedroom units, and 38 two-bedrooms. Per the floor schedule filed with the city’s building department, there will be 96 parking spaces, outdoor and indoor recreation spaces and a laundry room. There will be 7 apartments on the first floor and between 24 and 28 units on the floors above.
Last year, Madison Realty Capital provided Heritage with a $64 million loan to complete construction. Josh Zegan, Managing Partner at Madison, tells Real Estate Weekly that “Crown Heights is increasingly attractive to many new residents, who are drawn to the proximity to Prospect Park and reasonable housing prices as compared to Park Slope and Williamsburg.”
Google Earth aerial showing location of 564 St. John's Place (CityRealty)
Related Articles
Williamsburg
Taking game night to the next level: 15 NYC condos with elevated game rooms and billiards tables
Friday, June 26, 2026
New Jersey
Hudson House West: Two months free rent and hotel-style amenities at final building in Jersey City's Hudson House Collection
Friday, June 26, 2026
Future New York
New York’s Classical Revival: See the new Penn Station and traditional designs reshaping the luxury residential market
Wednesday, June 24, 2026
Future New York
Price Cuts: "Big" screenwriter's Cobble Hill townhouse trimmed by $900K; Lantern House junior penthouse drops below $10M
Wednesday, June 24, 2026
Future New York
Landmarks praises residential conversion/restoration of NoMad's Baudouine Building, Seeks revisions to rooftop addition
Tuesday, June 23, 2026
Future New York
NYC contracts led by $18.5M Upper East Side mansion and a bespoke Billionaires' Row condo
Tuesday, June 23, 2026
Future New York
Brick is Back: NYC developments revive the warmth of masonry; See Morris Adjmi's new design for 277 Canal Street
Friday, June 19, 2026
Coney Island
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
