Real Estate Weekly
Image default
Deals & Dealmakers

Acuity Capital, Nationwide Realty buy Williamsburg office building for $30M

A joint venture between Acuity Capital Partners and Nationwide Realty has purchased 185 Marcy Avenue, a six-story office building in Williamsburg, Brooklyn.

Photo via Google Street View
Photo via Google Street View

The 70,000 s/f property, which was originally built as a rooming house by a YMCA affiliate, was sold for $30 million, or about $526 a foot.

“The purchase of 185 Marcy Avenue provides us with an unprecedented opportunity to reposition this under-appreciated asset as an office building that will contribute to the thriving Williamsburg neighborhood,” said Elliot Neumann, the firm’s COO. “We are delighted to add this property to our portfolio of investments throughout New York City.”

Acuity has been active in adding to its New York City portfolio. Two months ago, the firm purchased a six-story Washington Heights building for $20.8 million.

William Lang of Winston Strawn represented the firm in the transaction. The seller was Marcy Square LLC.

Related posts

Tishman Speyer Secures Basis Investment Group as Equity Partner on Santa Monica Collection Development


VIA Outlets celebrates record-breaking year with €1.2 billion in brand sales – benefiting from a 27% increase in visitor expenditure


Guitar Center Opens 300th Location in Naples, Florida