BH3, Capstone land $208M construction loan for DoBro office-to-resi conversion
A never-occupied Downtown Brooklyn office tower will get a second life as a residential building after locking in a construction loan. Ran Eliasaf’s Northwind Group provided a $208 million loan for 141 Willoughby Street, a 24-story Class A tower that was completed in 2023 but never landed a tenant. BH3 Management and Capstone Equities are converting 16 upper floors into 239 rental apartments. The lower seven floors will remain office space. Capstone and BH3 acquired the 355,000-square-foot building from Savanna through a foreclosure last year. Savanna bought the site for $28 million in 2014. In 2021, about seven years after […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
West Palm Beach Is Finally Having Its ‘Tribeca
Moment’
Interior Design Pros Share Their Top Wellness Trends From
Fall Market
Nonresidential Contractors Face A Split Market In 2027.
Here’s Why
Zillow’s 2027 Home Trends Report: Buyers Want AI, Flex
Spaces, Catios
Family of slain Rudin employee sues firm for wrongful
death
Mamdani signs COPA into law
What Affects Home Prices? 10 Factors That Shape
Value
Real Estate Photography Pricing: What Sellers Can Expect to
Pay
6 Ways to Make Your Outdoor Space Comfortable for
Winter
We Buy Houses Columbus, Indiana: Top 4 Companies
