Acuity Capital receives TCO for $3M commercial project in Brooklyn

Acuity Capital Partners, on June 2, was issued a temporary certificate of occupancy for a $3 million project on two floors and the cellar of a 20,119-square-foot building at 185 Marcy Avenue in Brooklyn.

The plans, pre-filed November 14, 2018, call for a change in use of the cellar and floors one and two of the 75-foot tall, six-story, building.

The project is described in the filings as: herewith file plans for alterations to the cellar, first and second floors and means of egress with the extension of existing exit stairs and new lobby exit. Amend certificate of occupancy for new uses and occupancy alt cellar, 1st and 2nd floors. The initial cost as reported in the DOB filing for the work described in this permit application is $2,955,000.

Offices in the cellar were converted to nursery school space while pre-existing nursery school space in the cellar was converted to a custodial care facility, per the plans. A church on the ground floor was converted to additional office space while office space on the second floor was converted to an outdoor roof playground.

The property was acquired for $30.0 million on February 9, 2017. The firm paid roughly $526 per square foot.

Elliot Neumann of Acuity Capital Partners borrowed $324 million from Cantor Commercial Real Estate Lending and KeyBank for 34 parcels at 884 West End Avenue, 337 West 43rd Street, 61 West 106th Street, 333 West 43rd Street, 331 West 43rd Street, and others in the Manhattan and Brooklyn in March.

Direct link to Acris document.LINK

Direct link to DOB document.LINK