JOINT VENTURE OF FETNER PROPERTIES, MCB REAL ESTATE AND FARALLON CAPITAL MANAGEMENT CLOSE ON $209 MILLION ACQUISITION OF 240 WILLOUGHBY STREET IN FORT GREENE, BROOKLYN
1. JLL represented the seller in the $209.5 million property transaction. 2. 240 Willoughby street includes 463 residential units, with 147 affordable housing. 3. 25% of the apartments were leased shortly after opening, indicating strong demand. 4. Fetner Properties plans to develop over 1500 homes in NYC in coming years. 5. The acquisition signifies continued commitment to NYC’s evolving real estate needs.