Eichner sells controversial Crown Heights development site for $54M
Ian Bruce Eichner sells Crown Heights development site at the center of zoning fight over shadows on Brooklyn Botanic Garden.
Developer Ian Bruce Eichner has sold a controversial development site in Crown Heights for $54.3 million after a fierce battle over zoning regulations. The site, located at 970 Franklin Avenue, was purchased by Isaac Schwartz from Eichner's Continuum Company, according to a press release from JLL.
The development site has been at the center of a heated debate over shadows caused by new buildings on the nearby Brooklyn Botanic Garden. The sale marks the end of a six-year struggle for Continuum, which had been trying to push through rezonings to allow for larger multifamily projects.
"This sale is a win for both parties involved. Eichner is able to offload a controversial site, while Schwartz can now move forward with his development plans," said JLL's Andrew Scandalios, who along with Ethan Stanton, Brendan Maddigan, and Michael Mazzara arranged the sale.
The site is approved for a 10-story building with 355 units, 106 of which must be income-restricted. This sale highlights the strong demand for development sites in Brooklyn, especially in the rapidly growing neighborhood of Crown Heights.
"We are excited to move forward with our plans for this site and contribute to the continued growth and development of Crown Heights," said Schwartz.
Originally reported by The Real Deal.
https://therealdeal.com/new-york/2025/09/17/eichner-sells-continuum-crown-heights-development-for-54m/