Downtown Brooklyn

JEMB Secures $235 Million Construction Loan for One Willoughby Square in Downtown Brooklyn

In the heart of downtown Brooklyn, just off of Flatbush Avenue and adjacent to the City Point complex, One Willoughby Square, also known as 1WSQ or 420 Albee Square, is now on track to become the tallest Class A office tower in Brooklyn. A $235 million construction loan has now been approved and secured from Otera Capital, a Canadian real estate lending company. JEMB is the developer of the upcoming office project.

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266 Schermerhron Street (61 Bond)

Ace Hotel Rising At 266 Schermerhorn Street in Downtown Brooklyn

Construction on the future Ace Hotel at 266 Schermerhorn Street is now making substantial progress, with the building reaching the halfway mark, as seen in the latest photos from Tectonic. Located in Downtown Brooklyn between the Hoyt-Schermerhorn and Nevins St subway line, the new 13-story hotel is designed by Roman and Williams Buildings and Interiors, and is being developed by GFI Hospitality and GFI Development Company.

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7 Boerum Place, via Google Maps Satellite

New High-Rise Planned for 7 Boerum Place, Downtown Brooklyn

Speculation has been raised around what Avery Hall Investments would do after purchasing a site from Brooklyn Law School for $76.5 million back in 2016, and acquiring 50,000 square feet of air rights from two nearby properties for another $16 million. Now, permits have been filed for a 21-story mixed use building at 7 Boerum Place, in Downtown Brooklyn. The high-rise will rise on the corner of Fulton Mall, a pedestrian area between Flatbush Avenue and Adams Street that houses over 200 stores. Avery Hall is partnering with Allegra Holding and Aria Development Group.

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