Rob Hebron Exclusive Broker

347-528-5077

rob@ingram-hebron.com

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

rob@ingram-hebron.com

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.