Updated Jan 9, 2026
Blooming Prep Signs Nine-Year Sublease At 168 Montague Street In Brooklyn Heights
168 Montague Street
Building Size
—
Asset Type
Special Purpose
Closing
Jan 9, 2026
About this deal
AI
The property asset involved in this transaction is a special purpose space located at 168 Montague Street in the Brooklyn Heights market. Blooming Prep has entered into a sublease agreement for the property, which previously served as a CVS. The lease is established at a rate of $75 per square foot for an extensive duration of nine years.
Summary of transation details:
- Property Type: Special Purpose
- Transaction Amount: $75/SF
- Lease Term: nine-year
- Tenant: Blooming Prep
- Address: 168 Montague Street
- Market: Brooklyn Heights
- Lease Type: Sublease
- Brokers: Nathaniel Mallon & David Dubinsky - Verada
Blooming Prep will utilize this space to establish its first school, implementing a self-guided Reggio Emilia curriculum. The transaction was brokered by Nathaniel Mallon and David Dubinsky from Verada, who represent the tenant in this deal.
On the Map
Special Purpose
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Brooklyn Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93