New York & Tri-State + Outer + Office | August 30, 2023

Capstone Equities Takes Over BK Whale Building

New York’s Capstone Equities has taken control of the Whale Building in Sunset Park after securing the debt on the 500,000-square-foot structure from TPG Real Estate Finance Trust earlier this year, reported by Crain’s New York Business.

Capstone emerged victorious at a foreclosure auction for the building, located at 14 53rd St., held in August. The firm plans to target flexible industrial tenants and entertainment firms, and could consider a child-themed gym or golf simulator for the property. The 7-story Whale Building was constructed in 1918 for the Whale Oil Co.

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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