Landau Development Plans 47-Story Brooklyn Heights Tower After $140M Site Acquisition

• Jonathan Landau is developing a 47-story mixed-use tower at 205 Montague Street
• Project totals 529,597 square feet with 136 residential units and retail space
• Backed by $213M loan and $100M equity, with total project cost near $500M

What demolition activity signals for Brooklyn Heights supply

Demolition prep is underway at 205 Montague Street as Jonathan Landau moves forward with a major mixed-use development in Brooklyn Heights. The existing six-story office building is being cleared to make way for a 672-foot residential tower, marking a significant shift in use from commercial to residential. Given the building’s size, demolition is expected to wrap up by fall, clearing the path for vertical construction. This transition reflects a broader trend across New York where older office assets are being replaced with higher-value residential projects.

What the project brings to the market

The tower, designed by Hill West Architects, will deliver a mix of 90 rental units and 46 condominiums, with large average unit sizes around 2,100 square feet. In addition to residential space, the development will include nearly 40,000 square feet of retail and more than 100 parking spaces. The scale and unit mix position the project toward the upper end of the Brooklyn residential market. The design features a podium base with a rising tower that incorporates setbacks and balconies, maximizing light, air, and views.

What the capital stack says about investor confidence

Landau Development acquired the site for $140 million and assembled a significant capital stack to move the project forward. Financing includes a $213 million senior loan and $100 million in equity from Northwind Group, along with preferred equity from Atlas Capital Group. This level of capital commitment underscores continued investor appetite for large-scale residential development in prime Brooklyn locations, even as costs remain elevated.

What this means for Brooklyn Heights and the surrounding demand

Located near major transit hubs, including Borough Hall and Court Street, the project benefits from strong connectivity and an established residential base. The addition of new retail space and high-end housing will further enhance Brooklyn Heights as a live-work-play neighborhood, attracting both renters and condo buyers seeking proximity to Manhattan. With limited large development sites remaining in the area, projects of this scale are relatively rare, increasing their long-term value potential.

What this means for developers and investors

The 205 Montague Street project highlights a clear opportunity: repositioning underutilized commercial sites into high-density residential assets. For developers, the ability to secure financing at this scale signals that capital is still available for well-located, high-quality projects. For investors, Brooklyn Heights continues to stand out as a supply-constrained, high-demand submarket where large mixed-use developments can deliver strong returns over time.