Landau Properties JV Breaks Ground on $550M Luxury Project
The building previously occupying the development site was demolished last week.
A partnership of Landau Properties, Third Millennium Group and Midtown Equities has broken ground on One Montague Place, a mixed-use luxury tower in Brooklyn Heights. The $550 million high-rise will feature 46 condominium units and 90 rental apartments.
One Montague Place will stand on the site of a previous 1962-completed, six-story office building, which was demolished last week, New York YIMBY reported. AECOM Tishman and Hill West Architects are the general contractor and the architect, respectively, handling this residential project.
In December 2025, the partnership paid $140 million to acquire the development site and received $213 million in predevelopment financing. The financing package consisted of a senior loan originated by Northwind Group and preferred equity from Atlas Capital Group.
Brooklyn’s limited boutique inventory when it comes to condos brought forward a wave of buyers looking for “attainable luxury”, Platinum Properties Vice President Thomas Handschiegel told Multi-Housing News in regards to recent condominium trends across New York City’s boroughs. Currently, Brooklyn neighborhoods to achieve that status are Greenpoint, Williamsburg, Gowanus and Prospect Heights.
One Montague Place’s take on luxury living
Upon completion, One Montague Place will rise 47 stories and feature 40,000 square feet of retail space. The condos will have half-, full- and triple-floor layouts, each measuring at least 3,000 square feet and featuring a minimum of three bedrooms. Shared amenities will include a jazz club, as well as wellness and entertainment spaces.
Located at 205 Montague St., the development is across the street from Columbus Park and adjacent to the Borough Hall subway station, which connects the area to Manhattan’s Financial District, some 2 miles northwest. Residential sales at One Montague Place will launch in 2027, while completion is scheduled for 2029.
