Former Temple of Restoration on Dean Street, in Redfin's "hottest" Prospect Heights, set for alteration into eight apartments, likely condos.

It's no surprise that religious properties near major development sites have become more valuable as real estate than (non-landmarked) historic resources.

Remember, the gothic, stone 1866 Episcopal Church of the Redeemer, across Fourth Avenue catercorner to P.C. Richard, in 2014 reaped $20 million in teardown value, enabling a 12-story condo. 

That seems a relative bargain, given that the 515 Dean Street building most recently home to Temple of Restoration--on the mostly low-rise block sandwiched by Atlantic Yards/Pacific Park towers at or across each end--sold last year for $5.6 million, and it won't be a complete teardown.

Temple of Restoration bottom right, with Atlantic Yards towers in background (l.-r.):
461 Dean (B2), 38 Sixth (B3), 662 Pacific (B15), and 18 Sixth (B4). Photo: Norman Oder

Rather, as Brownstoner reported April 1, Historic Prospect Heights Church Could Become Condos:

Spanish public company Urban View has filed an alteration permit to convert the 1890s church building at 515 Dean Street into eight apartments, adding an extra floor and 15 feet of height to the existing building, bringing it to a total of four stories. To completely tear down the church building and replace it, the company would need to apply for a demolition permit. Instead, it is going the alteration route, which means it plans to keep some of the existing structure intact — although it is not clear how much. 

Photo: Norman Oder

The building, which mixes Romanesque Revival and Gothic Revival style, opened in 1893 as the First Swedish Baptist Church, Brownstoner noted. 

After becoming the Dean Street Baptist Church, it became the First Evangelical Haitian Baptist Church in 1997 and Temple of Restoration in 2005.

Given the small number of units, Brownstoner suggested the eight apartments would be condos. 

Indeed, some older rental buildings on Dean have been converted to condos, at least after rent-stabilized tenants were bought (or nudged) out.

Prospect Heights - hot?

As Redfin reported March 27, "Brooklyn’s Prospect Heights and Clinton Hill top Redfin’s 2025 list of hot neighborhoods, after

posting a 105% spike in home sales from a year ago."

The image at left deserves an asterisk, since Clinton Hill is omitted. 

Also, while the two neighborhoods, which are separated by wide Atlantic Avenue, are apparently paired by zip codes, most of Prospect Heights, I suspect, is oriented toward Flatbush Avenue, home to multiple subway lines, and also the northern border of Park Slope.

 

The Atlantic Yards connection

Atlantic Yards watchers might remember the photo from Dean Playground by Jonathan Barkey that was later adapted, without credit, by architect Frank Gehry to show the potential view of the arena block towers.

Source: ESDC

The Temple of Restoration appears bottom right, though the playground has since been revamped. My photo up top attempts to re-create a somewhat similar angle. Note that neither B1 nor B5 have been built.