NEW YORK, March 27, 2026 /PRNewswire/ -- Waterfall Asset Management ("Waterfall"), an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets, announced that its clients, managed as part of its commercial real estate lending platform, have originated a $19.5 million loan to finance Acram Group's acquisition of a 30,000-square-foot blockfront retail condominium property located at 156--168 Bleecker Street in Manhattan's Greenwich Village.
Waterfall worked directly with Acram Group to source, structure and originate the financing, further strengthening the firm's ongoing relationship with the borrower.
"This investment is a reflection of the strong relationship we've built with Acram Group and its principals, a commitment we bring to all of our borrower partnerships," said Steven Shafer, Director on Waterfall's Contract Finance team. "We have great confidence in Acram's ability to execute its business plan, and we're proud to support its continued growth by providing a flexible and tailored capital solution."
The property, in one of Manhattan's most sought-after neighborhoods, is currently 79% leased with tenants including CVS and Le Poisson Rouge. The remaining vacancy presents an opportunity to attract flagship retail and premier food and beverage tenants seeking prominent frontage in a high-traffic corridor.
Acram Group plans to utilize the loan proceeds to reposition its portion of the landmarked building and implement strategic leasing incentives to drive the property toward full occupancy.
About Waterfall Asset Management
Waterfall Asset Management is an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets. Founded in 2005, the firm utilizes a relative value approach for sourcing and investing in the private and public markets, across 60+ sectors of the asset-based finance arena. Through this multi-sector specialization, Waterfall seeks to provide its clients a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is also the external manager to Ready Capital Corporation $(RC)$, a multi-strategy real estate finance company and small business lender. Waterfall is headquartered in New York City, with additional offices in London and Dublin. To learn more, please visit www.waterfallam.com.
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SOURCE Waterfall Asset Management
(END) Dow Jones Newswires
March 27, 2026 08:00 ET (12:00 GMT)