Acuity Capital Partners Acquires Office Building In Williamsburg For $30M
185 Marcy Ave, Brooklyn, NY, 11211
$30,000,000
$428/SF
Building Size
70,000 SF
Asset Type
Office
Closing
Feb 13, 2017
About this deal
AI
The office building located at 185 Marcy Ave, Brooklyn, NY, 11211 was sold for $30,000,000.00. The property spans 70,000 square feet and was purchased by Acuity Capital Partners from the Gutman Family Trust.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $30,000,000.00
- Address: 185 Marcy Ave, Brooklyn, NY, 11211
- Market: Brooklyn
- Buyer's Rep: Lang Williams (Colliers International)
- Buyer: Acuity Capital Partners
- Seller: Gutman Family Trust
- SF: 70,000
Acuity Capital Partners, led by Elliot Neumann, is actively involved in real estate investments. The firm has acquired multiple properties, including a Washington Heights rental building and a planned 62-unit condominium building in Chelsea. Additionally, Acuity Capital Partners strategically navigated zoning regulations for the Chelsea project.
On the Map
$30,000,000
$428/SF
Office
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Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93