Maddd Equities completes 465-unit rental tower at 202 Tillary Street in Brooklyn

• Maddd Equities delivers 465-unit rental tower in Downtown Brooklyn
• Project includes 120 affordable units and ground-floor retail
• Development backed by $143M financing and air rights assembly

What Maddd Equities delivered in Downtown Brooklyn

Maddd Equities has completed construction on 202 Tillary Street, a 31-story residential tower in Downtown Brooklyn, adding 465 rental units to one of the borough’s fastest-growing submarkets. The project spans over 436,000 square feet and includes a mix of market-rate and affordable housing, along with ground-floor retail space. Its completion marks the transition from development to lease-up in a highly competitive rental market.

What the unit count and affordability mix mean

The building includes 120 affordable units, reflecting a common strategy among large-scale New York developments to incorporate income-restricted housing while maintaining overall project feasibility. With 465 total units, this is a major addition to Brooklyn’s rental inventory, reinforcing Downtown Brooklyn’s position as a high-density residential hub.

How design and amenities support leasing

The tower, designed by Aufgang Architects, features a modern façade with floor-to-ceiling glass and metal paneling, along with multiple outdoor terraces. Amenities include a fitness center, coworking space, rooftop terraces, lounges, and even a pickleball court, aligning with the growing demand for lifestyle-driven rental buildings. These features are critical for lease-up velocity and tenant retention in a market where renters expect more than just location.

What the capital stack reveals about the deal

The project was financed with a $143 million construction loan from multiple lenders, alongside additional capital from a ground lease transaction and air rights acquisitions. Maddd Equities also assembled the site by purchasing development rights from nearby properties, a key strategy for maximizing scale in dense urban environments.

What this means for Brooklyn investors and landlords

With construction complete, 202 Tillary Street now enters the leasing phase, adding significant new competition to the Downtown Brooklyn rental market. For investors, the project highlights continued confidence in Brooklyn multifamily, even at a large scale and high cost basis. As more developments come online, the focus shifts to absorption and rent stability, but well-located, amenity-rich buildings like this are positioned to perform strongly.