A 51 unit rental building in East Williamsburg has been sold for $39.5 million to Harlem-based investment firm Sugar Hill Capital Partners. The three-story, 53,200 sqf loft building at 315 Seigel Street sold for $742 per sqf or approximately $775,000 per unit. Rents at the building, located one block from the Morgan L, range between $3,000 and $3,600. Ofer Cohen and Dan Marks at TerraCRG brokered the deal, while Signature bank provided financing. “Loft style apartments situated in this highly sought after art district are rarely available, leading to strong demand from buyers when these assets come to market,” said Dan Marks, TerraCRG
