[NYguy]

https://www.bisnow.com/new-york/news...brooklyn-65032

JEMB AND FOREST CITY RATNER TO TEAM UP TO BRING NEW OFFICE TOWER TO DOWNTOWN BROOKLYN

Sep 12, 2016
Benjamin Mazzara

According to Forest City Ratner CEO MaryAnne Gilmartin, One Willoughby will be the first modern office tower in Downtown Brooklyn since Forest City’s own Metrotech Center and the first speculative ground-up office development in Downtown Brooklyn in decades. As developer and minority partner, Forest City will take an equity stake in the project, which was announced late last year as part of the city's efforts to make Downtown Brooklyn the anchor of the Brooklyn Tech Triangle.

Potential new design...


http://therealdeal.com/2016/09/12/fo...-office-tower/

JEMB, led by Morris Bailey, bought the development site on Willoughby Street in 2014 for $38.5 million and quickly ratcheted up plans to construct a 620-unit, 700-foot residential building. But a logjam of residential buildings coming to market and the city’s subsequent $15.5 million sale of 120,000 square feet of air rights and 3,000 square feet of land next door last year convinced JEMB to change tack.

Now, a partner with significant interest in ground-up office construction has focused the project even further, according to the Wall Street Journal.
“Morris’ team was open to sitting down and looking at the project anew,” MaryAnne Gilmartin, president and CEO of Forest City Ratner, told the Journal.

The partners haven’t yet determined the budget or design but are looking to secure an anchor tenant, Gilmartin said. Forest City Ratner is a minority equity partner on 420 Albee, but the size of its stake is unclear. Construction is expected to begin in 2017.