Grand Banks Brothers Buy Montero Bar Building in Brooklyn

The Montero Bar building at 73 Atlantic Avenue in Brooklyn Heights was purchased for about $4.5 million by the Pincus brothers, operators of Grand Banks oyster bar through their Crew hospitality group. The mixed-use property includes a ground-floor tavern and apartments above. The acquisition suggests the neighborhood’s remaining seafaring dive will not be converted into condos. Montero dates to 1939 and became a long-time sailors’ hangout after moving to its current corner in 1948. Pepe Montero reportedly selected Crew as “the next generation of caretakers,” and Crew plans light-touch stewardship focused on keeping the bar’s character, including cheap beer, pool, and karaoke nights.

"Alex and Miles Pincus, the brothers behind the Grand Banks oyster bar, have quietly snapped up the century-old Montero Bar building at 73 Atlantic Avenue in Brooklyn Heights for about $4.5 million. The mixed-use property includes the ground-floor tavern and the apartments above, and is now in the hands of the Pincus family's Crew hospitality group. For locals, it strongly hints that one of the neighborhood's last seafaring dives is not headed for a condo conversion."

"According to Crain's New York Business, the building traded for roughly $4.5 million. The outlet reported on May 22, 2026, that the buyers were the Grand Banks operators, confirming that the same maritime-minded team is now steering Montero's future. New Owners Have Waterfront Pedigree Alex and Miles Pincus co-founded Crew, a hospitality group known for turning historic vessels and waterfront structures into dining destinations."

"Montero dates back to 1939 and moved to its current corner at Atlantic Avenue and Hicks Street in 1948, eventually becoming a long-time sailors' hangout and neighborhood fixture. Local reporting notes that Pepe Montero has run the bar for decades, and that the family chose a buyer they felt would protect the space, according to the Brooklyn Eagle."

"Crew describes on its Montero page how Pepe personally selected the group as "the next generation of caretakers" and pledges to keep the bar's character intact. The company highlights Montero's cheap beer, pool table and karaoke nights, signaling that the plan is light-touch stewardship rather than a glossy reinvention."

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