Thomas Family Sells Multifamily Property At 499 Montgomery Street Brooklyn For $2,250,000

499 Montgomery Street is a brick 2-family property located on the corner of Montgomery Street and New York Avenue in Crown Heights, Brooklyn. The asset was sold for $2,250,000, boasting a total area of 4,050 square feet, which equates to $555 per square foot. The property was delivered vacant, with 50% of the building in livable but unrenovated condition, while the remaining portion requires a top-to-bottom overhaul.

After conducting 24 tours, 16 vetted offers were received, leading to the identification of the best buyer, a local end-user looking to convert the property into a single-family home. The transaction demonstrates a successful match between the property's condition and the buyer's aspirations.