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

93 North 9th Street in Williamsburg, Thor Equities' Joe Sitt, and a KAWS statue (Credit: Google Maps and Jim Bowen via Flickr)

Acclaimed artist KAWS pays $17M to expand Williamsburg studio

166 Berry Street in Brooklyn and Wharton Properties’ Jeff Sutton (Credit: Google Maps)

Jeff Sutton pays record price in Williamsburg: brokers

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

A rendering of  280 Meeker Avenue CW Realty Management CEO Cheskie Weisz (CW Realty Management)

CW Realty to bring mixed-use project to troubled Williamsburg site

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

269 Wallabout Street in Williamsburg (Credit: Google Maps)

On to the next one: Rabsky planning yet another Brooklyn project

58 Union Avenue (Credit: Google Maps)

Brooklyn binge: Rabsky Group plans to bring 65-unit project to Williamsburg

CW Realty's Cheskie Weisz and the Williamsburg assemblage (Credit: CW Realty and Google Maps)

CW Realty buying Williamsburg assemblage for $39M