CIM Group Debuts Brooklyn Luxury Condos
- Mar 03, 2021
CIM Group, along with developing partner LIVWRK, has wrapped up construction on 111 Montgomery, a 163-unit condo property in Brooklyn’s Crown Heights neighborhood. Residents of the area’s first newly built, full-service luxury condominium are already moving into the 12-story building, that offers studios to three-bedroom options.
The project received a $57 million construction loan from Bank of the Ozarks in late 2017, according to The Real Deal. Located at 109 Montgomery St., the property is near the Brooklyn Botanic Garden, Prospect Park and the Brooklyn Museum. The mid-rise structure is within walking distance of the Botanic Garden metro station and the Flatbush Avenue retail corridor.
Units at 111 Montgomery offer oversized windows, private balconies and terraces, while on-site parking and bike storage are also available for residents. The property’s amenities include a landscaped rooftop terrace with grill and lounge seating, resident lounge, children’s playroom, fitness center and community garden. Prices start at $499,000, according to Off The MRKT.
Last July, CIM and LIVWRK topped out another high-end condo development in Brooklyn’s DUMBO neighborhood. The 1.1 million-square-foot, 728-unit Front & York rises 21 stories. Prices range from $975,000 for a one-bedroom, one-bathroom floorplan to $2.74 million for a three-bedroom, three-bedroom option.