Acuity Capital secures $95M loan for UWS rental building

Natixis is the lender

New York /
Aug.August 03, 2018 09:30 AM

Elliot Neumann (inset) and 212 West 91st Street (Credit: Google Maps)

Acuity Capital secured a $95 million mortgage for Upper West Side rental building The Greystone.

The property, located at 212 West 91st Street at the corner of Broadway, is a 14-story residential building with 363 apartments and three commercial units, city records show. Acuity paid $139.1 million for the property in 2013. It was previously owned by Brack Capital Real Estate.

The new loan replaces an $88.4 million from Santander Bank. The lender for the new debt is French bank Natixis Real Estate Capital, which assumed the unpaid balance of $80.3 million from the previous mortgage, according to records filed with the city on Thursday. The loan package also includes a $14.6 million gap mortgage.

Acuity, headed by Elliot Neumann, has a portfolio that covers Manhattan and Brooklyn. Its holdings include 440-450 Audubon Avenue in Washington Heights, which it purchased for $20.8 million in 2016, and 185 Marcy Avenue, a Williamsburg office building it acquired last year. The company previously pushed to exclude an affordable housing component from its Chelsea condo project at 42 West 18th Street. It instead proposed paying for affordable housing elsewhere in the city. The plan gained support from the City Council.

The firm did not immediately respond to requests for comment.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Carpenter & Company's Richard Friedman and 2 Canal Street in New Orleans (Carpenter & Company, Google Maps)
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
Cohen Brothers Realty’s Charles Cohen and 750 Lexington Avenue (Getty Images, Cohen Brothers Realty, Council on Tall Buildings and Urban Habitat)
Cohen Brothers’ Midtown tower back in special servicing
Cohen Brothers’ Midtown tower back in special servicing
(Photo Illustration by The Real Deal with Getty Images)
Mortgage rates jump, but so do applications
Mortgage rates jump, but so do applications
ASG's Steve Reardon, DoorLoop's Ori Tamuz and David Bitton (ASG, DoorLoop)
Property management startup DoorLoop raises $20M
Property management startup DoorLoop raises $20M
A photo illustration of Adam Leitman Bailey (far left) and Miki Naftali (right) (Getty Images, Naftali Group, Adam Leitman Bailey, P.C.)
Naftali tenant suffers blow in holdout battle
Naftali tenant suffers blow in holdout battle
Carmel Partners' Ron Zeff and a rendering of the LIC project (Getty Images, Carmel Partners, Privcap)
Carmel Partners nabs $364M loan for Queens development
Carmel Partners nabs $364M loan for Queens development
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...