699 and 701 Prospect (near Bedford) are being torn down

Not surprising.

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=321425187&passdocnumber=01

Interesting... Isn't this the home of a electrical company?

Yup, at one point it was home to Prospect Electric Company.

https://www.google.com/?gws_rd=ssl#q=prospect+electric+service+inc

For their sake, I hope they owned the buildings, sold them and never have to run cable again.

15 units. 5 stories.
And two stores
Coming

http://newyorkyimby.com/2016/10/permits-filed-701-prospect-place-crown-heights.html