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30-Story, 300-Unit Development Coming to 240 Willoughby St

Developers Rabsky Group secured a $72 million construction loan for the site that backs onto to Brooklyn Hospital Center
Screenshot 2022-01-06 at 11.00.52
240 Willoughby St. Photo: Google Maps.

A new 30-story, 300-unit development is in the works for 240 Willoughby St in Fort Greene, a site that backs on to Brooklyn Hospital Center.

Developers Rabsky Group have secured a $72 million construction for the building, which will finance both the ground up construction of the new multifamily development and the renovation of an existing 21-story, 189-unit multifamily development, lenders SCALE Lending said.

Under the Affordable New York program, 147 units will be set aside for affordable housing, SCALE Lending, a Slate Property Group affiliate, said.

In September, Rabsky Group secured a $450 million construction loan to complete development of a 35-story, 1,098-unit multifamily mixed-use property at 625-635 Fulton St. in downtown Brooklyn, according to Multi Housing News.

The building, at the intersection of Flatbush Ave., will include two interconnected residential towers atop a five-story podium, and have 590,096 square feet of residential space and 25,988 square feet of retail space along Fulton Street, 250 parking spaces and 150 storage units.