Shovel-Ready Multifamily Development
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940 Montgomery Street, New York, NY 11213
Plans are filed for an 18-unit residential building, extending an existing two-story four-family structure.
Property Size13,060 SF
Lot Size0.11 Acres
Days on Market118
Property Features for 940 Montgomery Street
General Information
Standard status
Active
Size
13,060 SF
Lot size
0.11 Acres
Property subtype
Land, Multifamily
Zoning
R7-1
Investment Type
Redevelopment
Additional Details
Multifamily Units
18
Building Details
Year Built
1924
Buildings
1
Stories
4
Units
18
Listing Agency:
BKREA
(917) 509-9501
Listed By:
Bob Knakal · License #NY 10301211305
Source:
Crexi
Added: Apr 16
Changed: Aug 10
Last Checked: Aug 9 at 10:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BKREA
Investment Insights
Based on property information with market context.
940 Montgomery Street offers a shovel-ready development opportunity for a planned 18-unit residential building in Crown Heights, Brooklyn. The project contemplates a vertical extension of the existing two-story, four-family structure, with a unit mix of 9 studios, 5 one-bedrooms, and 4 penthouse loft units featuring private roof terraces. Demolition plans are in place and the detailed architectural program is prepared by Hany Rizkalla Architect PLLC.
The site is in an R7-1 zoning district and is planned with a 2.71 FAR, within an allowable 3.44 FAR. Current ownership has already sold 2,000 SF of air rights (equivalent to 6 units of density) to the neighboring property, and the application reflects those prior transactions.
The current proposal includes approximately 13,060 square feet of zoning floor area on a 4,811 SF lot. Access to multiple subway lines and bus routes is cited as part of the site’s central transportation connectivity in the neighborhood.
The site is in an R7-1 zoning district and is planned with a 2.71 FAR, within an allowable 3.44 FAR. Current ownership has already sold 2,000 SF of air rights (equivalent to 6 units of density) to the neighboring property, and the application reflects those prior transactions.
The current proposal includes approximately 13,060 square feet of zoning floor area on a 4,811 SF lot. Access to multiple subway lines and bus routes is cited as part of the site’s central transportation connectivity in the neighborhood.
Key Highlights
- Plans filed for an 18‑unit residential building totaling approx. 13,060 SF zoning floor area on a 4,811 SF lot
- Vertical extension of existing two‑story 4‑family structure (built 1924)
- Unit mix: 9 studios, 5 one‑bedrooms, and 4 penthouse loft units with private roof terraces
Property Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
4,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Plans are filed for an 18-unit residential building, extending an existing two-story four-family structure.
Where is this apartment building located?
The property is located at 940 Montgomery Street New York, NY.
What are key features of this property?
This property features: Plans filed for an 18‑unit residential building totaling approx. 13,060 SF zoning floor area on a 4,811 SF lot; Vertical extension of existing two‑story 4‑family structure (built 1924); Unit mix: 9 studios, 5 one‑bedrooms, and 4 penthouse loft units with private roof terraces
