Brooklyn had a 72-67 lead after Teletovic's fade away jumper with 2:50 left but the Grizzlies quickly tied it. Prince hit a 3-pointer with 2:31 remaining to make it 72-70. After Gasol blocked Andray Blatche's shot and Teletovic missed a 3-pointer, Conley hit a 19-foot shot with 1:18 left to tie it, 72-72. Brooklyn then missed two more shots as Brook's turnaround jumper was off the rim and then Allen made his game-changing play, blocking Williams' attempt.
"It was disappointing. We worked that hard," Nets interim head coach P.J. Carlesimo said.
"I thought Deron did a great job taking the ball to the basket."
Brooklyn had a chance to tie it with 10.9 seconds left, but Williams turned the ball over as he attempted to pass it to Teletovic but the pass was picked off by Tayshaun Prince. Williams then fouled Mike Conley, who sealed it with a pair of free throws.
"I think it says a lot to get this win. I think this was a test game to see if we are playing well or not," Conley said. "To come in and beat a very good team in their home court says a lot about our integrity and our ability to step up in big games."
After Carlesimo ended his postgame news conference, some players left without addressing the media. Nets general manager Billy King walked alongside Brook Lopez and Blatche. King commented that the players would not be stopping in the hallway in order to avoid any possible fines on remarks they could make about the game's officiating.
Lopez, the team's lone representative in the All-Star game, played just three quarters and was benched in the final 12 minutes of the game. He scored just nine points, making just three of 10 shots from the field. Carlesimo said that Blatche "was playing better on both ends and was playing good defense".
Prince had 11 points to help the Grizzlies improve to 8-0 this season when holding opponents below 80 points.
C.J. Watson had 11 points and Blatche added 10 for the Nets.
Notes : Memphis's longest winning streak of the season is eight games (Nov. 2-17). ... Memphis' 74 points is its second lowest season total. The Grizzlies scored 73 in a loss to the Los Angeles Clippers on January 14. ... The Grizzlies tied a season low with points allowed in a game. Denver also managed 72 points in a loss at Memphis. ... Reggie Evans had 14 rebounds for Brooklyn.