CIM Group has topped out on 1150 Clay, a 16-story 288-unit apartment building located between 11th and 12th streets in downtown, which is anticipated to be completed in spring 2020.

The real news will probably play out in the hundreds of office buildings where WeWork has leased large blocks of space.

Terreno Realty sells the property for $4 million more than what it paid four years ago.

"Familiarity with the Downtown Brooklyn market allowed us to quickly underwrite this transaction," said Josh Zegen, co-founder and managing principal of MRC.