Crown Heights, Brooklyn, is undergoing one of its biggest waves of commercial transformation in years. Between rezonings, large site acquisitions, and new mixed-use projects, the neighborhood is shaping up as a major hub for investors, developers, and retail tenants.
Major Deal: CW Realty Acquires 73-99 Empire Boulevard
In August 2025, CW Realty, led by developer Cheskie Weisz, closed on the purchase of 73-99 Empire Boulevard in Crown Heights for approximately $42.5 million. The site, formerly a single-story building, was recently rezoned to allow for a 13-story mixed-use development.
Plans call for:
- 261 new apartments (78 designated affordable)
- Ground-floor commercial space totaling nearly 98,000 square feet
- Structured parking with 190 spaces
This is a significant investment in Crown Heights, signaling confidence in the corridor’s long-term growth.
Read more at:
- The Real Deal: https://therealdeal.com/new-york/2025/08/19/cw-realty-buys-crown-heights-development-site-for-40m/
- Commercial Observer: https://commercialobserver.com/2025/08/cheskie-weisz-cw-realty-buys-73-99-empire-boulevard
- New York YIMBY: https://newyorkyimby.com/2025/02/new-renderings-reveal-proposal-for-73-99-empire-boulevard-in-crown-heights-brooklyn.html
Atlantic Avenue Mixed-Use Rezoning
In May 2025, the New York City Council approved the Atlantic Avenue Mixed-Use Plan (AAMUP), covering sections of Crown Heights and nearby neighborhoods. This rezoning allows for:
- Up to 4,600 new apartments, including 1,900 permanently affordable units
- Significant new ground-floor retail and commercial opportunities
The rezoning will reshape Atlantic Avenue into a denser, mixed-use corridor, creating strong demand for retail tenants, community facilities, and service-oriented businesses.
Read more at:
- NYC Planning: https://www.nyc.gov/assets/planning/download/pdf/plans-studies/atlantic-ave-mixed-use/atlantic-ave-mixed-use.pdf
- Council Member Crystal Hudson’s update: https://council.nyc.gov/district-35/2025/05/28/atlantic-avenue-mixed-use-plan-approved
Development Site Sale on Bedford Avenue
Also in August 2025, Avison Young announced the $10.1 million sale of a site at 1550 Bedford Avenue, offering nearly 38,500 buildable square feet. The buyer, Avery Hall Investments, intends to redevelop the property.
This deal highlights growing investor interest in Crown Heights’ development-ready sites.
Read more at:
- Avison Young press release: https://www.avisonyoung.com/news-releases/-/aynp/view/2025/08/21/avison-young-brokers-10-1-million-dollar-sale-of-38500-buildable-sf-development-crown-heights-brooklyn-new-york/in/new-york
Broker’s Perspective
For commercial investors, Crown Heights represents a rare mix of growth, affordability, and long-term upside. The time to secure space or development rights is now, while projects are still in planning and lease-up phases.
Looking to invest or lease in Crown Heights?
I provide insider knowledge on rezoning, site acquisitions, and lease opportunities to help investors, landlords, and developers maximize their returns.
About the Author
Valerie Sebbag is a licensed real estate broker and founder of 555 Properties LLC, specializing in residential and commercial real estate in Brooklyn, including Crown Heights. With years of experience helping buyers, sellers, and investors navigate the local market, Valerie provides expert guidance on acquisitions, development opportunities, and leasing strategies.
Ready to invest, lease, or develop in Crown Heights?
Leverage Valerie’s in-depth knowledge of rezoning, site acquisitions, and commercial leasing opportunities to identify the best deals before they hit the broader market. Contact Valerie Sebbag, Licensed Real Estate Broker at 555 Properties LLC, today to schedule a private consultation and take the next step toward your commercial real estate goals.
📞 Call: 917-623-6331
📧 Email: ValerieSebbag555@gmail.com
Sources
- The Real Deal – https://therealdeal.com/new-york/2025/08/19/cw-realty-buys-crown-heights-development-site-for-40m/
- Commercial Observer – https://commercialobserver.com/2025/08/cheskie-weisz-cw-realty-buys-73-99-empire-boulevard
- New York YIMBY: https://newyorkyimby.com/2025/02/new-renderings-reveal-proposal-for-73-99-empire-boulevard-in-crown-heights-brooklyn.html
- Avison Young – https://www.avisonyoung.com/news-releases/-/aynp/view/2025/08/21/avison-young-brokers-10-1-million-dollar-sale-of-38500-buildable-sf-development-crown-heights-brooklyn-new-york/in/new-york
- NYC Planning: https://www.nyc.gov/assets/planning/download/pdf/plans-studies/atlantic-ave-mixed-use/atlantic-ave-mixed-use.pdf
- NYC Council District 35 – https://council.nyc.gov/district-35/2025/05/28/atlantic-avenue-mixed-use-plan-approved
Copyright Notice
© 2025 – 555 Properties LLC. All rights reserved.
This article was written as original analysis for informational purposes only. Sources have been credited and linked directly. No part of this article may be reproduced without permission.
