CW Realty Group files plans for 99 units on land long-owned by Edison Properties

Cheskie Weisz of CW Realty Group submitted a new building construction project for a 99-unit, 81,889 square-foot residential (R-2) building at 55 Smith Street in Boerum Hill, Brooklyn. The plan was filed with the New York City Department of Buildings on February 3, 2026 under job number B01328056. It calls for the construction of a 22-story building. The project is described in the filing as: proposed 22 story mixed-use building. The architect is Kao Hwa Lee Architects.

CW Realty Group through the entity 55 Smith LLC signed a contract in August 2025 as buyer with Edison Properties through the entity 160 Livingston Properties, LP for the development site, currently a parking lot (G6) at 55 Smith Street in Downtown Brooklyn. The expected use is ground up development.
The memorandum of contract was signed on December 10, 2025 and was recorded on December 30, 2025. The property has zero square feet of built space and 135,870 square feet of additional air rights for a total buildable of 135,870 square feet according to a PincusCo analysis of city data.
The signatory for Edison Properties  was Jon Dario. The signatory for CW Realty Group  was Cheskie Weisz . The contract date was August 26, 2025. The closing is set for January 15, 2026, however CW Realty has the right for one extension, to February 15, 2026.

JLL was marketing the property.

55 Smith Street

The property

The parcel has frontage of 170 feet and is 80 feet deep with a total lot size of 13,587 square feet. The lot is irregular. The zoning is C6-4 which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.2 million.

Violations and lawsuits

According to city public data, the property has not received any significant violations in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Boerum Hill, The bulk, or 32 percent of the 9 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space. In sales, Boerum Hill has near average sales volume among other neighborhoods with $725.1 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Boerum Hill has near average amount of major developments among other neighborhoods and is the 6th highest in Brooklyn. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 27 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of eight of the 11 commercial properties representing 36,254 square feet of the 123,026 square feet. The largest owner is Cw Realty Group, followed by Jacob Marciano and then Stuart Venner. On the tax block, there were two new building construction projects totaling 193,066 square feet. The largest is a 99-unit, 111,177 square-foot residential (R-2) building submitted by Watermark Capital Group and filed by Joel Werczberger with plans filed December 5, 2024 and it has not been permitted yet. The second largest is a 99-unit, 81,889 square-foot residential (R-2) building submitted by Cheskie Weisz with plans filed February 3, 2026 and it has not been permitted yet.

The owner

The PincusCo database currently indicates that Cw Realty Group owned at least 29 commercial properties with 367 residential units in New York City with 318,453 square feet and a city-determined market value of $65.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 46 percent of the 318,453 square feet of built space are elevator properties, with walkup properties next occupying 35 percent of the space. The bulk, or 93 percent of the built space, is in Brooklyn, with Manhattan next at 4 percent of the space.

The surrounding

Within a 400-foot radius of 164 Livingston Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a sale which Monarch Realty Holdings bought the 9,283-square-foot, five-unit office building (O5) on 27 Smith Street for $5 million from Paul Tocci on September 30, 2025. One of those two items was a loan which Ohana Real Estate Investors borrowed $90 million from Deutsche Bank secured by four condo units in the 130,677-square-foot, 132-unit mixed-use building (RM) on 71 Smith Street on May 13, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.