JEMB Realty

One Willoughby Square Begins Vertical Ascent Above Downtown Brooklyn

Located in Downtown Brooklyn, One Willoughby Square, aka 420 Albee Square, is going to be a new 500,000-square foot Class-A office tower. The 18,000-square foot site is situated across the street from City Point and Brooklyn Point. As of now, work on the 34-story, 495-foot tall development is climbing above the fifth floor. It is being designed by FXCollaborative and bring developed by JEMB Realty. Gilbane is in charge of construction.

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One Willoughby Square Begins Ascent Towards 495-Foot Pinnacle in Downtown Brooklyn

Dozens of construction workers are quickly laying steel rebar and concrete for the foundations and lower floors of 1 Willoughby Square in Downtown Brooklyn. Located at 420 Albee Square, the 34-story, 495-foot-tall, 500,000 square foot Class-A office tower is being developed by JEMB and designed by FXCollaborative. It broke ground in February, and sits directly across the street from the City Point residential and retail complex to the west.

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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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420 Albee Square

Permits Filed for Office Tower at 420 Albee Square, Downtown Brooklyn

After several design iterations, it appears that work is finally set to begin on a new office tower at 420 Albee Square, in Downtown Brooklyn. What was originally expected to become the borough’s tallest residential tower saw a substantial downgrade in expectations when revised permits were filed in March of 2015, only for the shift to office to be announced in November of the same year. FXFowle is listed as the architect on the latest version, which will rise 36 floors and 495 feet to its rooftop.

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