181 Montague Street, Brooklyn, NY, 11201, US

181 Montague Street

Asset description

181 Montague Street offers the rare opportunity to own stabilized cash-flowing retail in a landmarked building located along the historic Montague Street Bank Row in Brooklyn Heights. The Property is located on the north side of Montague Street, in between Clinton Street and Court Street. 181 Montague Street is net leased to the national credit tenant TD Bank and totals ~10,000 SF. The Property is perfectly located along the most trafficked area of the Montague Street retail corridor which services the surrounding neighborhood as well as Downtown Brooklyn. Brooklyn Heights has emerged as one of the top neighborhoods in all of NYC. Transportation access, neighborhood feel, and Manhattan-like amenities are just a few reasons for this surge in demand.

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Attributes

Building area gross

959 sm

Occupancy

100%

Land area gross

465 sm

Zoning

DB (C5-2A)

Media

Investment highlights

Premier Brooklyn Heights Neighborhood

As overall popularity has grown in Brooklyn Heights, so has the residential and retail market, with per foot rentals in the residential market leasing north of $90 / SF and luxury condos selling above $2,000 SF. Neighborhood retail favorites in Brooklyn Heights include Felice, Ingas Bar, Dellarocco’s, and L’Appartement 4F. Adjacent tenants to the Property (between Clinton Street and Court Street) include Gregory’s Coffee, Barry’s Fitness, Orangetheory Fitness, Santander Bank, Chipotle, Citizens Bank, and Chase Bank As demographics within the neighborhood continue to strengthen, so will the migration of retailers, as it has already become a top retail market in all of New York City.

Access to Transportation

Brooklyn Heights has a plethora of subway options, making it one of the most accessible neighborhoods in all of Brooklyn. As a result, many Manhattan residents often move to the Heights while still commuting to Downtown or Midtown Manhattan. Accessible and nearby subway lines include the 2,3, 4 & 5 at Borough Hall, the at Court Street, and the A, C & F at Jay Street-MetroTech.

Exceptional Demographics

Brooklyn Heights, Cobble Hill, and Downtown Brooklyn have seen impressive increases in population, average household incomes, and educational attainment over the past 15 years. With average household incomes north of $260,000, 181 Montague Street is well positioned to capitalize on these favorable demographic trends, which are projected to continue in the future.