Triangle Equities, Michaels Org. & Geolo Capital's 111 Willoughby Street Tops Out in Downtown Brooklyn

Triangle Equities, The Michaels Organization, and Geolo Capital have reached the top of their joint project, 111 Willoughby Street, a 40-story mixed-use residential tower in downtown Brooklyn. Spanning 204,000 square feet, the tower is on track for completion by the second quarter of 2025.

Project Details

The tower will feature 227 rental units, with 69 of them designated as affordable housing. Additionally, the building will house 1,814 square feet of ground-floor retail space and serve as the new home for St. Boniface’s Newman Parish Center. Collaboration with the landowner, the Archdiocese of Brooklyn, facilitated the demolition of existing offices to make way for the tower and a new 20,000-square-foot community ministry center for St. Boniface Parish.

Financing and Stakeholders

Helaba Bank provided a $39.5 million construction loan in March 2022, while Geolo Capital contributed financing for the project. ZDG serves as the general contractor, with GF55 Architects leading the architectural design. The engineering team includes Desimone Consulting Engineers, Cosentini Associates, and Mueser Rutledge Consulting Engineers.

Downtown Location and Amenities

Situated on 0.17 acres, the property operates under a 49-year unsubordinated net ground lease held by the Roman Catholic Church of St. Boniface in Brooklyn, expiring in June 2069. Residential amenities will encompass a 24-hour concierge, coworking space, community kitchen, fitness center, and indoor/outdoor rooftop lounge.

Accessibility and Surroundings

The building enjoys proximity to various public transportation options, including subway stations for the A, C, F, R, 2, 3, B, Q, and R trains, as well as several MTA bus routes and Citi Bike stations. Residents will benefit from nearby retail, dining, academic institutions, cultural attractions, and green spaces.