BH3 and Capstone buy 141 Willoughby, plan to add 200 residential units

BH3 Management and Capstone Equities closed on 141 Willoughby Street and have major plans to reposition the vacant office tower in Downtown Brooklyn. The joint venture acquired the 24-story, 400,000-square-foot building from Savanna through a foreclosure and is now seeking to convert part of the tower into 200 residential units. The developers plan to add both market-rate and affordable housing with residences spanning studios all the way up to three bedrooms. Only floors two through seven of the 24-story building will consist of office space.  The conversion is expected to start in 2026. Savanna bought the site for $28 million […] This article originally appeared on The Real Deal. Click here to read the full story.