NEW YORK | 240 Willoughby Street | FT | 30 FLOORS

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240 Willoughby Street Nears Topping Out In Fort Greene, Brooklyn

Construction is nearing topping out on 240 Willoughby Street, a 30-story residential building in Fort Greene, Brooklyn. Designed by Fischer Rasmussen Whitefield Architects and developed by Rabsky Group, which purchased the property for $95 million in 2019, the structure will yield 300 rental units with 147 dedicated to affordable housing. 240 Willoughby LLC is the owner and Galaxy Developers is the general contractor for the project, which directly abuts an existing 21-story apartment building and is bound by Willoughby Street to the north, the Brooklyn Hospital Center to the south, Fort Greene Park to the east, and Ashland Place to the west.

The reinforced concrete superstructure has been constructed more than two-thirds of the way to its pinnacle, and is likely on pace to top out this summer. Façade and window installation have yet to commence, though the lower floors are steadily being framed out with metal studs and insulation boards. Meanwhile, Rabsky Group is carrying out an extensive interior renovation of the adjacent residential structure as part of a $72 million construction loan the developer secured from SCALE Lending in January 2022.

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NYY