The new deal will bring 227 apartments to 111 Willoughby Street as part of a mixed-use building in a historic neighborhood of Downtown Brooklyn.
Triangle Equities, a leading tri-state area based full-service real estate firm, and Michaels recently announced plans to erect a new 411-foot mixed-used building at 111 Willoughby Street in Brooklyn, New York. The multi-use 39-story, 190,000-square-foot development will be comprised of 227 apartment units, a community facility and office space.
Floors two through five will operate as the Newman Center, a division of the Roman Catholic Church of St. Boniface, serving the 150-year-old parish. Floors six through 39 will be developed into contemporary rental housing.
“We’re thrilled to bring this development to Downtown Brooklyn,” said Brett Goldman, Director of Acquisitions at Triangle Equities. “Our building will stand out as an extraordinary value, high-style rental property. The Michaels Organization presented the ideal partner for this project with its experience, passion and deep knowledge of complexities and responsibilities related to delivering housing across the country.”
Construction on 111 Willoughby Street is slated for completion in 2023 and will feature a rooftop lounge and terrace, a tenant-only gym, storage for 100+ bikes and a quiet studio.
Located in the historic neighborhood of Downtown Brooklyn, the area has a plethora of restaurants, boutiques and theaters. It is at the crossroads of Boerum Hill, Fort Greene and Brooklyn Heights with close proximity to multiple subway lines, including the A, C, F and LIRR, and steps away from Fort Greene Park, Barclay’s Center, the Brooklyn Academy of Music and Brooklyn Flea.
“Finding the ideal solution for this high-profile Brooklyn location was a result of having the right partners,” said Roger Black, Vice President of The Michaels Organization. “Triangle Equities extensive experience in the New York market and St. Boniface’s historical presence and service to the residents of the community, set the keystone for a successful development approach that is consistent with our mission to lift lives.”
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