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
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 recently been active when it comes to adding to its New York City portfolio. Last August, it bought 315 Siegel Street, a three-story rental building in Williamsburg for $39.5 million. It also purchased a six-story Washington Heights building for $20.8 million two months ago.
William Lang of Winston Strawn represented the firm in the transaction. The seller was Marcy Square LLC.
