Under Contract: Below Market Restaurant Lease in Brooklyn, NY (Downtown Brooklyn Neighborhood)

Updated Bid Deadline: October 23, 2019, 1pm
Updated Auction Date: October 28, 2019
Minimum Bid: $1,100,000
Subject to Bankruptcy Court Approval

Situation Overview

Keen-Summit Capital Partners LLC has been engaged by Eagle Corp. LLC f/k/a Hill Country Brooklyn, LLC, as exclusive real estate broker for the sale of the lease for the space located at 345 Adams Street, Brooklyn, NY.

  • The lease is significantly below market in one of the top retail corridors in Brooklyn and the 3rd  largest business district in NYC
  • Ample frontage with busy pedestrian walkway and seating on Willoughby Plaza, just off of the bustling Fulton Mall. Willoughby Plaza is surrounded by popular restaurants and located steps from the Downtown Brooklyn’s NYU campus, bustling MetroTech Center, and the Court Street commercial corridor makes this a well trafficked area.
  • Adjacent to 675 room Downtown Brooklyn Marriott Hotel
  • MTA: 11 subway lines within ½ mile: 2, 3, 4, 5, M, N, R, A, C, F, G
  • Surrounded by 19+ mill. s.f. of office space, including Brooklyn Law School, CUNY School of Technology, NYU Tandon School of Engineering, Kings County Courts, Borough Hall, US District Court

345 Adams Street Flyer - 9-9-19

345 Adams Street - Information Memorandum

Bid Procedures Order - 9-27-19

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  • HCBK Club View from corner opposite Stage
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  • HCBK Counter
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LEASE HIGHLIGHTS:

345 Adams Street, Brooklyn NY 11201
Downtown Brooklyn Neighborhood

  • 5,847 sq. ft. on Ground Floor
  • 1,320 sq. ft. on Second Floor
  • 1,680 sq. ft. on Ground Floor (separate commissary space on Pearl St)

Current Lease:

  • LED: 12/31/2034
  • $210,000 Annually
  • $23.74 psf – 12% increase every 5 yrs – next increase 6/1/23