JLL Capital Markets arranges sale of 970 Franklin Ave. on behalf of Continuum Company
News release
17 September 2025
Crown Heights development site trades for $54.3 million
NEW YORK, Sept. 17, 2025 –JLL Capital Markets announced today that it has arranged the $54.3 million sale of 970 Franklin Ave., a 289,957 buildable-square-foot development site located in Brooklyn’s Crown Heights neighborhood.
JLL arranged the sale on behalf of The Continuum Company and procured the buyer, Isaac Schwartz. The site is approved for the development of up to 355 residential apartments within a 10-story building.
Situated in the heart of the Crown Heights, 970 Franklin Ave. is one block from Prospect Park, providing future residents easy access to one of the top green spaces New York has to offer, and surrounded by cultural and social attractions, including high-end retail, restaurants, and bars.
A JLL Capital Markets team, including Andrew Scandalios, Ethan Stanton, Brendan Maddigan, and Michael Mazzara, arranged the sale.
970 Franklin Ave. is located within walking distance of several MTA subway and bus stations, providing access to neighborhoods across New York City. Its growing rental market has seen average vacancy hover around just 1% since 2015, attracting a substantial influx of private investment. Recently completed new developments include the 569-unit property at 54 Crown St. and 141 Montgomery St. and construction is currently underway on a 301-unit development at 960 Franklin Ave. directly adjacent to 970 Franklin Ave.
JLL is a leader in the New York tri-state commercial real estate market, with more than 4,800 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.