PWR Holdings has placed the development site at 111 Montgomery Street, in western Crown Heights, on the market with an asking price in the mid-$40 million, according to Commercial Observer. The 22,000 square-foot site boasts 168,000 square feet of development rights. New building applications were filed to erect a 12-story, 173-unit apartment building on the property in March.
The broker, TerraCRG, is advertising the site as a condo development. The site is five blocks south of the Franklin Avenue stop on the 2, 3, 4 and 5 trains, and a single-story warehouse would have to be demolished.