BCRE SELLS 362-UNIT LUXURY APARTMENT BUILDING IN NYC FOR $139M

NEW YORK CITY — Brack Capital Real Estate (BCRE) has sold The Greystone, a 362-unit luxury apartment building at 212 W. 91st St., for approximately $139 million. Acuity Capital Partners purchased the property. BCRE converted The Greystone, which was built as a hotel in 1923, into a luxury residential property in 2009. The Greystone includes apartments ranging from studios to three-bedroom units with modern design elements and premium finishes. Amenities at the property include a resident’s lounge, fitness center, bicycle storage, valet service, landscaped roof lounge and sun deck. Aaron Jungreis of Rosewood Realty Group represented the seller and buyer in the transaction. Eastdil Secured acted as an advisor to the seller. Acuity has taken out a $113.7 million loan facility on the property from Ares Commercial Real Estate, which was arranged by Michael Edery of Paradigm Funding.