Listed by RIPCO Real Estate New York, RIPCO Real Estate
$4,800,000
158 Montague Street
Details
APN 249-40
Property Type Retail, Office
Sub Type Traditional Office, Street Retail
Square Footage 6,025
Tenancy Single
Price per SqFt $797
Buildings 1
Stories 4
Lot Size (SqFt) 2,500
Zoning R7-1, C1-3, LH-1
Investment Type Value Add
Retail | 6,025 SqFt
Marketing description
Brooklyn, New York
FIRST OFFERING IN 55 YEARS | BROOKLYN HEIGHTS CONVERSION OPPORTUNITY
Investment highlights
- COVETED MONTAGUE STREET LOCATION - Direct proximity to Borough Hall, five subway lines (2/3/4/5/A/C/R), the Brooklyn Heights Promenade, and Brooklyn Bridge Park. Co-tenants along the corridor include Starbucks, Chipotle, and numerous local staples such as Lassen & Hennigs, L'Appartment 4F, Dellarocco's, and more.
- BLANK CANVAS REPOSITIONING OPPORTUNITY - Four-story, 6,000+ SF retail and office building with near-term lease expirations providing a new owner immediate optionality.
- SIGNIFICANT MARK-TO-MARKET RENTAL UPSIDE - Ground floor retail lease expires Q3 2028. Current rent is well below prevailing market rents.
- MULTIPLE VALUE-CREATION PATHWAYS IN A SUPPLY CONSTRAINED SUBMARKET - A buyer may pursue a residential conversion of the upper floors to market-rate rentals or condominiums, with the potential for vertical expansion with as-of-right air rights. Located within the Brooklyn Heights Historic District, new development across the submarket is structurally capped, limiting competition and underpinning long-term demand for existing and repositioned assets.
- FIRST TIME TO MARKET IN ~60 YEARS - Privately held and partially owner-occupied since 1968, 158 Montague Street is available for the first time in nearly six decades.
Listing Contacts
Listed by RIPCO Real Estate New York, RIPCO Real Estate
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