315 Seigel Street trades for $30M

Overview

Local investor Jo-Ann Obergfell, through the entity 59 Bogart LLC, acquired the 51-unit multifamily building at 59 Bogart Street, also known as 315 Seigel Street, from T30 Capital for $30 million, according to Commercial Observer. The deed is dated Aug. 11, 2026, and was recorded Aug. 27, 2026, in city records.

The three-story building was originally industrial and was converted to residential lofts in 2005. It offers one- to three-bedroom units, along with a lounge, a gym, a bike room and communal outdoor spaces, and sits above the L train's Morgan Avenue station.

The seller, T30 Capital, is linked to affiliate Sugar Hill Capital Partners, which bought the property in 2016 for $39.5 million, per Commercial Observer. CBRE's Robert Shapiro and Ian Brooks represented the seller.

Commercial Observer reports that Obergfell signed the deed filing as the authorized signatory of 59 Bogart LLC. The grantors on the deed are 59 Bogart Owner, LLC, 420 St. Nicholas Residences, LLC and TriSun Bogart, LLC.

The $30 million price is below the $39.5 million paid for the building in 2016, a reference point for how a transit-adjacent East Williamsburg loft building has been valued a decade later. CBRE credited the building's transit-oriented location and proximity to major planned development for investor interest.

Parties Involved 5 recorded

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Property & Project