One of the last remaining, sizable development opportunities in Brooklyn’s Prospect Park is being offered for sale through TerraCRG. Ofer Cohen and Melissa Warren are representing the sellers of the site valued at $40 million. The property will be delivered with DOB-approved plans for the development of a 168,000 GSF residential building.
111 Montgomery is surrounded by cultural landmarks and world famous attractions. Directly across from the Brooklyn Botanic Garden and Prospect Park, it is also walking distance to the Brooklyn Museum, Grand Army Plaza and the Brooklyn Public Library, as well as a plethora of trains.
According to the brokers, buyers have been “devouringˮ condos in the area at prices reaching $1.5 million while condo sellouts on the other side of Grand Army Plaza are projected at $1,850/SF.
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