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Rob Hebron Exclusive Broker
347-528-5077
Robert Hebron Exclusive Broker
718-624-0011
rfhebron@ingram-
hebron.com
188 Montague Street #950
Brooklyn NY 11201
718-624-0011
www.ingram-hebron.com
Property type: Mixed Use (K4)
Building size: 7,115 SF(27’ x55’)
Lot size: 27’ x 100’
Floors: 5 Actual
Existing square feet 7,115
Gross Useable SF: 27,000
FAR as built: 2.65
Commercial FAR: 10
Residential FAR: 10
Zoning: C5-2A, DB
BUILDING FEATURES
19,845 Square Feet of as of right additional buildable FAR.
Located in the heart of Brooklyn Heights, 162 Montague Street offers outstanding potential for developers, end-users, and more.
Existing Condition:
Lower Level: Lichee Nut- Chinese Restaurant, a long term Brooklyn Heights staple.
First Floor: Nanatori - Japanese Restaurant, long term Brooklyn Heights Sushi favorite.
Second Floor: Vacant Office space, 1,485 Square Feet
Third and Fourth Floor: Vacant, 3 bedroom 2 bath apartments (1,500 SF Each.)
PROPERTY DESCRIPTION
ASKING PRICE: $8,000,000 Subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or
withdrawal without notice.
Demographics Snapshot (1 Mi Radius): Median Household Income:$114,421 (5.2% Growth) 2018 Population: 111,466 (5% Growth) Total Households: 50,151 Average Age: 37 Median Home Value: $985,380
188 Montague Street #950
Brooklyn NY 11201
718-624-0011
www.ingram-hebron.com Subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or
withdrawal without notice.
162 Montague Street is located in the heart of Brooklyn Heights, also known as “America’s first suburb.” The neighborhood is among New York City’s most affluent and is famous for its “Brownstone” buildings and views of the Manhattan skyline.
Built in 1900, the building measures 27’ x 55’ and is 7,155 square feet. There are four stories with a lower level commercial unit. The lot measures 27’ x 100’. The commercial, residential and facility FAR is 10. FAR as-built is 2.65. There are 19,845 square feet of unused air rights. The building is landmarked.
The lower level and second floor are currently leased through 2026 to two highly successful Asian restaurants, both of which are staples of the vibrant Brooklyn Heights dining scene. The top three floors are currently vacant and have previously been used as commercial office and residential living space.
The 2,3,4,5 and R subway trains are right out the front door and it is less than fifteen minutes to Manhattan by subway.
Montague Street is world famous for its varied collection of restaurants, clothing boutiques, salons and other unique shopping experiences. A five minute walk from the property is the famed Brooklyn Promenade with sweeping views of Manhattan, several bridges, the New York Harbor and the Statue of Liberty. It is also an access point to the spectacular new Brooklyn Bridge Park.
The current owner has approved and permitted plans to remodel the building. (Available on request)
Building SF: 7,115
Acquisition Cost: $ 8,000,000
Acquisition Cost/SF: $ 1,124
5 Story Building (Rental Valuation)
Revenue
SF PSF Anuual Monthly
Floor G: Retail 1 1,400 $ 107 $ 150,000 $ 12,500
Floor 1: Retail 2 1,400 $ 111 $ 156,000 $ 13,000
Floor 2: Office Projected 1,455 (1,905 RSF) $ 50 $ 95,250 $ 7,938
Floor 3: Apt1 Projected 1,455 N/A $ 72,000 $ 6,000
Floor 4: Apt2 Projected 1,405 N/A $ 72,000 $ 6,000
Gross: $ 7,115 $ 29 $ 545,250 $ 45,438
Expenses
Taxes $ 118,244
Insurance $ 12,500
Water $ 1,200
Heat & Electric $ 13,500
Total: $ 145,444.00
% of GOI 26.67%
NOI: $ 399,806.00
Rob Hebron Exclusive Broker
347-528-5077
Robert Hebron Exclusive Broker
718-624-0011
rfhebron@ingram-
hebron.com
188 Montague Street #950
Brooklyn NY 11201
718-624-0011
www.ingram-hebron.com
ASKING PRICE: $8,000,000 Subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or
withdrawal without notice.
Tree-lined sidewalks, cobblestone side streets, and a thriving mix of shops, businesses and amenities make it clear why America’s first suburb, Brooklyn Heights, is one of the most sought after places to live, work and play in New York City. Named one of “America’s Top 10 Most Beautiful Neighbor-hoods” by Travel and Leisure magazine, Brooklyn Heights was the first neighborhood in New York City to be designated a Historic District and the first neighborhood in Brooklyn to be landmarked. From nineteenth-century brownstones and single -family man-sions to Federal brick homes, and carriage houses, beauty and historic architecture fills the neighborhood. Locals and tourists alike flock to Brooklyn Heights for its small-town feel, unparalleled views of New York Harbor, the Brooklyn Bridge, and Downtown Manhattan. Our neighborhood has been the site of Revolutionary War battles, abolitionist activism, and has a superb collection of National Historic Landmark Houses of Worship. A hot spot for the entertainment industry, Brooklyn Heights has been the setting for the filming of countless shows, mov-ies and commercials and a favorite photo shoot location for the fashion industry. Over the years, Walt Whitman, Henry Ward Beecher, Henry Miller, Truman Capote, Norman Mailer, Sarah Jessica Par-ker, Anne Hathaway, Lena Dunham, Matt Damon and many celebrities have all called the Heights home. -MontagueBID
Subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.