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
The Princeton Club flag in front of 15 West 43rd Street (Google Maps)
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
Signature Bank CEO Joseph DePaolo (Signature Bank, iStock)
Signature Bank reports record results
Signature Bank reports record results
Hudson Yards (Getty, iStock)
City’s bet on Hudson Yards beginning to pay off
City’s bet on Hudson Yards beginning to pay off
5 homes for autumn on the Upper West Side, à la ‘When Harry Met Sally’
5 homes for autumn on the Upper West Side, à la ‘When Harry Met Sally’
5 homes for autumn on the Upper West Side, à la ‘When Harry Met Sally’
The Closing: Ron Dickerman
The Closing: Ron Dickerman
The Closing: Ron Dickerman
Kuwaiti investor Wafra in contract to buy 720 West End Ave
Kuwaiti investor Wafra in contract to buy 720 West End Avenue
Kuwaiti investor Wafra in contract to buy 720 West End Avenue
arrow_forward_ios

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

Loading...