Montperia Files Plans for Borough Park Mixed-Use Project

Queens-based Montperia Group is planning to build in another borough — Borough Park, actually.

A limited liability company tied to the Woodside-based developer filed a rezoning application with the Department of City Planning for a project in the Brooklyn neighborhood, Crain’s reported. The developer purchased the site at 900 60th Street in 2016 for $9.7 million.

Montperia is pursuing a 13-story, 150-unit project at the site, which is situated between Ninth Avenue and Fort Hamilton Parkway. The 108,000-square-foot project would include between 35 and 42 permanently affordable units for households earning between 60 percent and 80 percent of the area median income.

The development would also include 5,500 square feet of commercial space and 50 parking spaces. Perfect Furniture & Lighting had a storefront on the site, though it appears to have relocated elsewhere. There is a Kids Palace children’s play center there, though its future is unclear.

Montperia managing member Alex Lau did not respond to the publication’s request for comment. Greenberg Traurig’s Jay Segal, an attorney representing the developer, estimated it would take roughly a year to receive approval for the project, then up to another two years for the development to be constructed.

Last year, Montperia and JLS Construction Group secured a $115 million construction loan from Maxim Credit Group for a 216-unit condo tower with ground-floor retail at 24-02 Queens Plaza South in Long Island City.

The property was previously owned by Carlyle Group, which acquired it in 2020 for $40 million, intending to build a commercial property, but later sold it to Montperia in 2023 for $49 million.

Montperia also has properties in Flushing, Woodside and Sunset Park.

Elsewhere in Borough Park, Shiya Labin recently sold an office property in Borough Park for $42.3 million to George Lebovits of Ahava Medical, a significant increase from its $29.5 million purchase price five years earlier. The 151,000-square-foot Class B office building at 6201 15th Avenue is mostly vacant.

— Holden Walter-Warner