East Williamsburg Loft Building Sells to Sugar Hill Capital Partners for $39.5 Million

Accomplished real estate investment and asset management company Acuity Capital Partners is pleased to announce the sale of 315 Seigel Street, a 3-story, 51 unit residential rental building, located in the heart of East Williamsburg, to Sugar Hill Capital Partners.

“It is a pleasure to transact with sophisticated and accomplished operators’, as well as rewarding to have our investment strategy come full cycle,” said Elliot Neumann, Acuity’s Chief Executive. “It’s an exciting time for this well located asset. We are grateful that our purchasers perceived the value proposition it represents.”

The brokers on this sale were Ofer Cohen and Dan Marks of Terra CRG. The 53,200-square-foot building was sold for $742 a foot.

The purchase was financed by Signature Bank.

For more information about Acuity Capital Partners, e-mail info@AcuityCP.com or visit the website at http://www.acuitycp.com/.

About Acuity Capital Partners LLC

Based in Manhattan, Acuity Capital Partners is an accomplished real estate investment and asset management platform led by Elliot Neumann. Neumann draws upon his nearly $3 billion worth of real estate experience and relationships with institutional and high net worth capital partners while leading Acuity. The company was formed in 2012 to pursue a value-add investment strategy with a focus on real estate assets throughout New York City. For additional information about Acuity, visit http://www.acuitycp.com/.