Condo declaration for $153M 111 Montgomery, marketed as first “luxury” condo in Crown Heights

A joint venture between CIM Group, LIVWRK, and FM Capital had their condo declaration recorded on November 30 for their development at 111 Montgomery Street in Crown Heights. The recording of the condo declaration is one of the required steps before sales can close in the building.

The project’s condominium plan, which has a current sellout price of $152,517,500, was submitted to the New York State Attorney General on June 26, 2018. Asher Abehsera of LIVWRK, Jason Schreiber of CIM, and David Brecher of FM Capital are listed as the principals of sponsor. Aside from the building’s 163 residential units, the plan states the development also has 123 storage units and 19 parking units.

On March 11, 2015, new building plans were filed with the NYC Department of Buildings calling for a 131,866-square-foot, 119-foot tall, 12-story residential building at the site. The plans were permitted in December of 2015 and the development received its initial TCO on March 4, 2020. The plans were filed by Shifra Hager of Cornell Realty. However, Asher Abehsera said that Cornell is no longer involved in the project. City records show that Hager sold his stake in the property for $29.7 million in June of 2017.

Reports indicated that the building, which was designed by Fischer + Makooi, was being marketed as the first luxury condo planned for the neighborhood.