47 Willoughby Street Tower Gets $48M Mortgage From AC MP Finance

AC MP Finance LLC recorded a $48,000,000 mortgage against 47 Willoughby Street, a 42-story rental tower in Downtown Brooklyn, according to ACRIS. The mortgage is dated Oct. 27 and was recorded Oct. 29. The borrower is Willoughby Owner LLC, the entity PLUTO lists as the building’s owner of record.

Why it matters

The filing lands new debt on a tower that is already built and occupied, not a construction site. PLUTO shows 47 Willoughby completed in 2023 with 293 residential units across 260,927 square feet. For developers and lenders tracking Downtown Brooklyn’s post-2023 supply wave, a $48 million filing against a stabilized rental building is a data point on how debt is being priced against recently delivered product in the submarket, separate from the construction and bridge loans still moving through the neighborhood’s conversion projects.

The building sits on block 147, lot 44, a separate tax lot from 141 Willoughby Street, the Capstone Equities-controlled office-to-residential conversion three blocks away that drew an $81 million debt-fund mortgage in September. The two Willoughby Street addresses are not the same project or site. More Downtown Brooklyn and New York coverage is at The American Developer.

The numbers

• $48,000,000: mortgage amount recorded Oct. 29, borrower Willoughby Owner LLC, lender AC MP Finance LLC
• 293: residential units in the building, per PLUTO
• 42: stories, building completed 2023, 260,927 total square feet
• Block 147, lot 44: the tax lot, BBL 3001470044, zoned C6-4.5 within the Downtown Brooklyn special district

What’s next

ACRIS does not disclose the purpose of the loan, so it is not yet clear whether this refinances prior debt on the tower or funds a separate transaction. We will watch for a satisfaction filing tied to CRFN 2026000308975’s counterparty, or a follow-on deed, to confirm which.