They will receive a 2021 second-round pick while sending the Hawks guard Nickeil Alexander-Walker, who was the 17th overall pick in last month's draft, and a conditional first-round pick in 2020.
No trades could be made official until noon Saturday.
Crabbe, 27, averaged 9.6 points and 3.4 rebounds across 43 games (20 starts) for the Nets last season after he posted 13.2 points and 4.3 rebounds in 75 games (68 starts) in his first season with the Nets in 2017-18. He spent the first four years of his career with Portland.
Prince, 25, averaged 13.5 points and 3.6 rebounds in 55 games (47 starts) last year for Atlanta, slightly down from his numbers in 2017-18. The Hawks acquired him in a 2016 draft-night trade with the Utah Jazz, who took Prince 12th overall.
--Field Level Media