CIM Group launches luxury condos in Brooklyn
The CIM Group, along with its development partner LIVWRK, has completed construction of 111 Montgomery, a 163-unit condominium in the Crown Heights neighborhood of Brooklyn. Residents of the area’s first newly constructed full-service luxury condominium are already moving into the 12-story building, which offers three-bedroom studios.
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 close to the Brooklyn Botanic Garden, Prospect Park and the Brooklyn Museum. The mid-rise structure is within walking distance of the Botanic Garden subway station and the Flatbush Avenue commercial corridor.
Units at 111 Montgomery offer oversized windows, private balconies, and terraces, while on-site parking and bicycle storage are also available for residents. Facilities at the property include a furnished rooftop terrace with barbecue and lounge, residents’ lounge, children’s playroom, fitness center and community garden. Prices start at $ 499,000, according to Off the MRKT.
Last July, CIM and LIVWRK completed another high-end condo development in the DUMBO neighborhood of Brooklyn. The 1.1 million square feet, 728 units Front & York rises to 21 floors. Prices range from $ 975,000 for a one-bedroom, one-bathroom floor plan to $ 2.74 million for a three-bedroom, three-bedroom option.