Acuity Capital makes Williamsburg office play with $23M buy

Firm has purchased 545 Broadway from Blesso Properties

TRD New York /
Dec.December 21, 2018 04:45 PM

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.

Related Articles


Small Talk: Every community meeting. About every development project. Ever.

An example of roll-off waste management (Credit: YouTube, iStock)

A win for big building owners in trash-collection fight

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

329 Broadway and JLJ CEO Jonathan Lewis (Credit: Syndicate Architecture via CityRealty, Google Maps)

Williamsburg developer lands $57M refi to complete 329 Broadway

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation