57 Willoughby

The story of 57 Willoughby Street is, in many ways, the story of Downtown Brooklyn itself. Built in 1929, the six-story, 124,670 s/f commercial building spent nearly a century as the headquarters of Helen Keller Services for the Blind — a 131-year-old institution whose presence gave the building an identity rooted in civic purpose. When Helen Keller Services sold the property in 2016 for $54 million to Meadow Partners and relocated to 180 Livingston Street, a new chapter began. Meadow undertook a $20 million capital improvement program — new elevators, HVAC systems, a redesigned lobby, and a full interior renovation — transforming it into repositioned Class-A office space and attracting long-term tenants including Housing Works, which renewed 41,000 square feet, and the Jewish Child Care Association, which leased the top three floors in 2021.

In August 2024, Prosper Property Group founder Damien Smith led a consortium including GRA Equities founder Gary Romaniello and accounting principal Peter Zuccarello to acquire the building from Meadow Partners for $48 million — 11 percent below what Meadow had originally paid, representing a compelling basis in one of New York City's most transit-rich commercial corridors. Smith acquired the largest stake at 74.5 percent. Anchored by mission-driven, institutionally stable tenants and positioned steps from the Jay Street–MetroTech subway station and Borough Hall, 57 Willoughby demonstrates Prosper's capacity to move fluidly across asset classes — acquiring well-located, income-producing commercial assets alongside its residential development pipeline.