BLDG Management Buys Brooklyn Office Building From Cayuga Capital for $27M

Lloyd Goldman’s BLDG Management has purchased an office building in Williamsburg, Brooklyn, for $26.9 million, according to city records made public Monday.

BLDG, through the entity BLDG 87 Wythe, bought the property at 79-97 North 10th Street from Cayuga Capital Management, which used the entity 87 Wythe Holding, records show.

Goldman signed for the buyer, while Jacob Sacks, co-founding principal at Cayuga Capital, signed for the seller, according to records.

Spokespeople for BLDG and Cayuga Capital did not immediately respond to requests for comment. It’s unclear if there were any brokers on the deal.

The 30,953-square-foot office building between Berry Street and Wythe Avenue is home to coworking space The New Work Project, which opened in 2017 and offers private studios and workspaces to creators starting at $350 per month, according to its website.

The property also has retail tenants, including fitness studio The Bar Method and acupuncture clinic WTHN.

And this isn’t Goldman’s first purchase in Brooklyn. In June 2021, BLDG picked up a Bath Beach retail building at 2076-2084 86th Street from Wharton Properties for $17.3 million, as Commercial Observer previously reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.