The proximity to Prospect Park and location on part of the glacial ridge inspired the name. The area, less than one-quarter square mile, is central to The Brooklyn Museum, Grand Army Plaza, The Brooklyn Botanical Garden and the Brooklyn Academy of Music. The area was developed in the 1870s, after Prospect Park was built. It holds many classic brownstones, most of which have been restored, having survived riots and arson that plagued the area after World War II. In the 1980s the city sold off many abandoned buildings in an effort to prompt the extension of middle class housing. This resulted in expansive renovation of the neighborhood which served to promote further growth. Today, this area is still a growing, diverse community.

• The Hunterly Road Houses (1698-1708 Bergen Street), designated as a city landmark, are among the few surviving historic houses.
• Both The Bethel Tabernacle African Methodist Episcopal Church, built in 1847 and The Berean Missionary Baptist Church, built in 1851, still benefit the area.
• The Edwin C. Litchfield Mansion, built in 1857, is now the headquarters of the New York City Department of Parks, displaying small vestiges of its original architecture.
• 50 Prospect Park West, built in 1883, is a fortress-like Romanesque revival structure, complete with turrets, towers, and gables where one expects to see Rapunzel 'let down her hair'.
• The stretch of homes along Montgomery Place, built between 1881 and 1904, are a testament to creative architecture, successfully transporting the onlooker to another time and place.