The Real Deal New York

Acuity Capital makes Williamsburg office play with $23M buy

Firm has purchased 545 Broadway from Blesso Properties
By Eddie Small | December 21, 2018 04:45PM

Renderings of 545 Broadway in Williamsburg (Credit: CityRealty)

Acuity Capital Partners has purchased 545 Broadway in Williamsburg for $23.25 million from Blesso Properties, according to sources familiar with the deal.

The property is an office building that Acuity plans to renovate, and the deal includes a $25 million acquisition and construction loan from DW Partners.

A JLL team of Brendan Maddigan and Ethan Stanton brokered the sale, and Galaxy Capital arranged the financing.

This was the second sale in an assemblage that also included 555 Broadway in Brooklyn, also addressed 277 Lorimer Street. Blesso sold that property in October to London-based co-living company The Collective for $54.25 million.

Blesso and Acuity did not respond to requests for comment.

Other projects coming to Williamsburg include a 100-unit residential development from Heatherwood Luxury Rentals at 134 Hope Street and a 38-unit residential development from DDG Development at 102-110 North 1st Street.