Eye On Estate: Rumblings in Real Estate Circles About a New Inn for Brooklyn Heights – Near the Bossert
By Lore Croghan
Is there room for two hotels on Montague Street?
There’s talk in real estate circles about a plan to tear down Treeline Cos.’ office building near Cadman Plaza West, 189 Montague St., and build a hotel in its place.
Two and a half blocks away, of course, the historic Bossert, long used as lodging by the Jehovah’s Witnesses, is being renovated as a luxury hotel by new owners.
So what are the chances a second hotel will be built on Brooklyn Heights’ prime retail corridor?
Various murmurings on Montague would make you think something’s up.
For one thing, tenants’ leases aren’t being renewed at 189 Montague, one source said.
For another, at 146 Pierrepont St., a small apartment house located next to the back of 189 Montague, tenants are being told they must move because their building is being sold. Is the property destined to become part of a hotel site?
We called 146 Pierrepont’s owner, but didn’t hear back from her by deadline.
Executives at Treeline were unavailable for comment, a spokeswoman said.
Already, the air rights from 146 Pierrepont have been transferred to 189 Montague. That agreement, signed by Treeline CEO Glenn Schor, was made in 2000, City Department of Finance records indicate.
There are 18,000 unused buildable square feet from 146 Pierrepont, according to real estate website PropertyShark.com – plus 25,000 unused buildable square feet at 189 Montague St. itself, which is a 75,000-square-foot building.
BTW, city records indicate that Treeline bought 189 Montague in 1995 for $3.765 million, which was the highest bid in a court-ordered building sale.
The property, situated just outside the Borough Hall Skyscraper Historic District, “would make a tremendous hotel location,” one source said.
The proximity of the Bossert would enhance the prospects of a hotel at 189 Montague, another source said. “It would be enormously successful,” that source said.