Acuity Capital makes Williamsburg office play with $23M buy

Firm has purchased 545 Broadway from Blesso Properties

Renderings of 545 Broadway in Williamsburg (Credit: CityRealty)
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.

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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.