The Real Deal New York

Brack Capital sells UWS rental building for $139M

December 23, 2013 10:50AM

Brack Capital Real Estate has sold the Greystone, a 362-unit Upper West Side rental building, for $139.1 million, the company said. The buyer of the building at 212 West 91st Street was Acuity Capital Partners, according to a release from Brack.

“With our continuing focus on strategic growth in New York City, this sale allows BCRE to carry on in our mission of securing prime opportunities where we can build value,” said Issac Hera, CEO of the company’s U.S. division.

Acuity’s CEO Elliott Neumann said in the release that the company “is actively looking at other opportunities throughout New York City with our captive pool of high net worth and institutional capital partners.”

Rosewood Realty Group’s Aaron Jungreis  represented both sides of the transaction. Eastdil Secured acted as an advisor to the seller. Acuity financed the purchase through a $113.7 million loan from Ares Commercial Real Estate. – Hiten Samtani