The Ritz-Carlton Residences, Brooklyn Heights (98 Montague Street)
98 Montague Street, Brooklyn, NY 11201
BBL 3002480015 · BIN 3002054
- Type
- Condominium
- Landmark
- In a historic district
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A Private Pricing Opinion — what your apartment at The Ritz-Carlton Residences, Brooklyn Heights (98 Montague Street) would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
Hotel Bossert is a Renaissance Revival hotel from 1909, with a geometric brick facade, a granite and limestone base, a terra-cotta cornice, arched double-height windows and lion's-head keystones. SomeraRoad bought it in May 2025 for $100 million, reported, and the team announced the Ritz-Carlton-branded condominium conversion in September 2026.
About 187,200 square feet for 61 or 62 residences implies large homes, though the unit mix has not been published. The AG plan counts 88 units in total against 62 residential; ask what the other 26 units are.
What's planned
Plans call for restoring the historic facade and adding a 15th floor. The LPC approval also covers enlarging the floors above the main setback and infill at the rear elevation. Renderings show the added floors and the enlargement clad in porcelain panels, with window frames, glass guardrails and mechanical screens in a dark finish.
A 3,200-square-foot restaurant from Union Square Hospitality Group is planned for the ground floor, per published reporting. Residence sizes, finishes, amenities, any hotel-style services and the interior designer have not been published. Confirm them in the offering plan once filed.
Timeline and filings
- May 2025: SomeraRoad acquires the hotel for $100 million, per published reporting.
- 2025 to 2026: LPC review of the conversion and roof addition, with a revised proposal heard before approval.
- May 13, 2026: DOB interior-demolition filing for the building (job B01398578). The filing records the existing 284 hotel-room count; it is not the condominium unit count.
- July 30, 2026: Condominium plan CD260271 submitted to the Attorney General.
- August 2026: Facade restoration scaffolding filed with DOB.
- September 15, 2026: Ritz-Carlton Residences announced; construction expected to start later in 2026.
- 2029: Targeted completion.
Offering and pricing
The plan was submitted to the Attorney General on July 30, 2026 and had not been accepted as of October 2026. There are no amendments, no price schedule and no unit sales on the plan record. No pricing has been published.
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What would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at The Ritz-Carlton Residences, Brooklyn Heights (98 Montague Street) and nearby.
Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
What to know if you’re buying
- Reservations before plan acceptance are non-binding. The sponsor cannot sign purchase contracts until the Attorney General accepts the plan.
- Deposits are typically 10 to 20 percent, held in escrow.
- Closing costs. In sponsor sales the buyer customarily pays the transfer taxes, and the mansion tax applies at $1 million and above.
- Closing on a temporary certificate of occupancy is normal in new construction and in gut conversions.
- Budget, common charges and tax abatement are set in the plan. A conversion of a hotel can carry a different tax and abatement structure than ground-up construction; read that section of the plan.
- Branded residences. Ask whether the residences come with brand services, who provides them and who pays. Fees and any licensing arrangement between the condominium and the brand are disclosed in the plan.
- Landmark review. The building is in a historic district. Exterior work, including windows, terraces and rooftop installations, is subject to LPC approval.
- Commercial unit. The plan lists non-residential units, which may include the planned restaurant space. Ask how shared costs are allocated to them.
Comparable buildings
- 166 Montague Street — landmarked 1891 bank building converted to condominiums, also on Montague Street
- 138 Pierrepont Street — 1913 bank building converted to condominiums in 2015
- 60 State Street — ground-up condominium in the historic district
- 199 State Street — new-construction condominium on State Street
More Brooklyn Heights buildings
- One Brooklyn Bridge Park (360 Furman Street) — 1928 condominium
- One Clinton (1 Clinton Street) — 2019 condominium
- One Montague Place (205 Montague Street) — condominium by Hill West Architects
- Quay Tower (50 Bridge Park Drive) — 2019 condominium
- The Breukelen (57 Montague Street) — 1949 co-op
- The Kathryn, 25 Garden Place — co-op
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Brooklyn Heights.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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