NEW YORK—Greystone has acquired two Brooklyn development properties valued at more than $50 million located at 137-43 North 10th Street and 47-51 Bridge Street. Greystone’s Douglas Benach led the transaction on the company’s behalf.

The first property, located at 137-43 North 10th Street is in the Williamsburg neighborhood of Brooklyn. Situated between Berry Street and Bedford Avenue, the property is a five-story, 30,000-sq.-ft. loft conversion. Greystone plans to convert the building into a 36-unit multifamily property, which will include 12-ft. ceilings, large windows, central HVAC and shared rooftop space.

Located at 47-51 Bridge Street in Dumbo, the second property is a vacant development site that is slated to become a 27-unit multifamily rental project.