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Acuity Capital buys Hamilton Heights building for $33M

Source: The Real Deal Real estate investment firm Acuity Capital Partners, led by Elliot Neumann, acquired a 100,000-square-foot apartment building in Hamilton Heights for $32.5 million in an off-market deal, The Real Deal has learned. The 10-story elevator property at 3489 Broadway, at the corner of 143rd Street, contains 75 rental units and three vacant [...]

Broad Street Development Closes on 80 Broad for $173M

Source: Commercial Observer This past Friday, Broad Street Development has closed on the purchase of 80 Broad Street from Savanna for $173 million, Commercial Observer has learned. Savanna announced the sale of the 423,000-square-foot Financial District office building today. Broad Street Development said the sale price was $173 million. Real estate private equity firm Savanna [...]

BankNote Building Changes Hands for $114M

Source: Commercial Observer The BankNote building, once the home of the American Bank Note company, was sold last week for $114 million to a joint venture between the Madison Marquette and Perella Weinberg Partners Asset Based Value Strategy. “We are excited to be acquiring The BankNote Building, a historically significant and renowned property,” David Schiff, [...]

Rents soar high in Bushwick as popularity grows

Source: NY Post Bushwick is Brooklyn’s rising star — boasting the borough’s highest overall average rent increase: a stunning 29.76 percent for one-bedroom apartments in just one month, according to a new market report. The average one bedroom apartment rental jumped from $2,040 a month in July to $2,647 in August, according to brokerage firm [...]