REBNY’s Brooklyn Commercial Committee heads to 141 Willoughby for a timely discussion on office conversions, mixed-use repositioning, and the future of Downtown Brooklyn.
There are moments when a building becomes more than just a building. It becomes a signal of where a market is headed.
That is exactly why we chose 141 Willoughby Street as the setting for the upcoming REBNY Brooklyn Commercial Committee quarterly meeting on Wednesday, May 20, 2026, from 1:00 PM to 2:30 PM.
The building itself tells an important story. 141 Willoughby is a 24-story, roughly 400,000-square-foot property in Downtown Brooklyn that was originally delivered as a Class A office tower and is now being repositioned as a mixed-use asset expected to include 200+ residences, along with approximately 110,000 square feet of office and retail/commercial space.
For anyone who follows Brooklyn real estate closely, that shift is significant.
Downtown Brooklyn has long been one of New York City’s most important growth corridors. It has scale, transit access, institutional anchors, residential density, and a mix of uses that make it one of the most dynamic neighborhoods in the city. But like many urban business districts, it is also evolving in real time. Office product is being rethought. Owners are reassessing assumptions. Capital is looking for flexibility. And the line between office, residential, retail, and mixed-use identity continues to blur.
That is why 141 Willoughby felt like the right place to bring people together.
As Chair of REBNY’s Brooklyn Commercial Committee, I wanted this meeting to do more than gather industry professionals in a room. I wanted it to reflect the broader conversation happening across the borough: What does the next generation of Brooklyn commercial real estate look like? How do we preserve the energy and ambition that built neighborhoods like Downtown Brooklyn while adapting to today’s market realities? And how do we think more creatively about leasing, ownership, repositioning, and long-term value creation?
141 Willoughby offers a compelling backdrop for that discussion.
This meeting will feature a strong group of speakers, each bringing a different lens to the future of Downtown Brooklyn.
Avi Kollenscher, Partner at Capstone Equities, will speak about 141 Willoughby itself and the vision behind its repositioning. Capstone, along with BH3, recently took control of the property and are leading what is shaping up to be the first major Class A office conversion in Downtown Brooklyn. His perspective should offer important insight into why this asset matters, what the opportunity looks like, and how ownership is thinking about its future as a mixed-use destination.
Alexandra Newman of Serhant and Ryan Gessin of Newmark will discuss the changing Downtown Brooklyn office market and the depth of the residential condo and rental market. That should make for an especially valuable conversation, because projects like this depend on understanding both sides of the equation: what office demand looks like today, and how residential depth continues to support repositioning opportunities in core Brooklyn locations.
We will also hear from the Downtown Brooklyn Partnership, who will share their 2025 report on the Downtown Brooklyn development pipeline. That broader context is critical. 141 Willoughby is one building, but it is also part of a much larger story about growth, supply, demand, infrastructure, and the continued evolution of one of New York City’s most important districts.
One of the most exciting parts of this event is that attendees will not just hear about the building — they will be able to tour 141 Willoughby themselves.
That makes this meeting especially worthwhile.
It is one thing to talk conceptually about office conversions and mixed-use repositioning. It is another to walk through a major Class A tower in Downtown Brooklyn and see firsthand what makes an asset like this so compelling, and why it may be ripe for transformation.
For anyone involved in the Brooklyn real estate market, office leasing, development, investment sales, capital markets, or office-to-residential conversions, this should be a timely and meaningful discussion.
Downtown Brooklyn continues to be one of the borough’s most important business and development districts. It has density, transit, institutional anchors, residential momentum, and scale. But like many urban office markets, it is also in a period of recalibration. The next generation of successful projects in Brooklyn will likely be defined not just by size or location, but by flexibility, use mix, and the ability to respond to changing market conditions. 141 Willoughby sits directly at that intersection.
REBNY’s Brooklyn Committee Chairs, Frederick Richter and Nathaniel Mallon, invite you to join the committee’s quarterly meeting on Wednesday, May 20th from 1:00 PM to 2:30 PM.
Event Details
Date: Wednesday, May 20, 2026
Time: 1:00 PM – 2:30 PM
Location: 141 Willoughby Street, Brooklyn, NY
Lunch will be provided.
All those involved in the Brooklyn real estate market and office conversions are encouraged to attend.
To RSVP, please visit the REBNY event page.
We hope to see you there.
By Nathaniel Mallon, Chair of REBNY’s Brooklyn Commercial Committee
