a privately-held, New York-based
real estate investment firm

Develop

Spruce Capital

a privately-held, New York-based
real estate investment firm

Own

Spruce Properties

a privately-held, New York-based
real estate investment firm

Finance

S3 Capital

About Spruce

Spruce Capital Partners is a privately-held, New York-based real estate investment firm that owns, develops, and finances real estate and real estate-related opportunities. Founded in 2007 by Joshua Crane and Robert Schwartz, Spruce’s primary focus is on delivering superior risk adjusted returns while protecting downside. We believe this is achieved through a creative, multi-faceted approach to identifying, structuring, and executing deals.

SPRUCE CAPITAL

Established: 2007

Focus: Opportunistic Investment & Development

Transactions: 10+

Track Record: Over $2.5 billion in value

Learn More

12-year history of successfully buying, developing, and managing individual real estate transactions throughout New York City

Experience in sourcing and originating creatively structured transactions

Execution spans across different asset types

SPRUCE PROPERTIES

Established: 2014

Focus: Multi-Family Housing Outside of NYC

Transactions: 3,500+ units

Track Record: $500+ million in value

Learn More

Multi-family rental apartments outside of New York City

Characterized by consistent cash flow, 20-year investment horizon, and steady risk-adjusted returns

Properties with stable demographics, attractive cost-basis, and potential for long-term appreciation

S3 CAPITAL

Established: 2013

Focus: Real Estate Credit Platform

Transactions: Over 250 loans since inception

Track Record: In excess of $1.5 billion in loans

Learn More

Provides real estate bridge and construction financing secured by recorded first liens

Closed over 250 first mortgages totaling >$1.2 billion

Originate loans up to $15 million with dedicated funds, and loans in excess of $15 million with discretionary special purpose vehicles

In house expertise

The firm’s Principals, Joshua Crane and Robert Schwartz, lead an accomplished team of 20+ dedicated professionals with specialized market knowledge and they bring an entrepreneurial approach to uncovering and creating value. To ensure the success of each investment, Spruce employs a team of industry professionals across:

View Team

Acquisitions

Construction

Finance

Management

Origination

Underwriting

Featured Transactions

151 East 78th Street, New York, NY

Spruce assembled land and air-rights in five separate closings. Spruce then built 151 East 78th Street, a 16-story condominium consisting of  14 luxury apartments. Spruce proceeded to finish construction in 24 months and sold out the units during construction for approximately $3100 per square foot.

View More Transactions

Crystal Woods, Alexandria VA

Spruce identified 344 workforce housing units 10 miles outside of Washington DC which they purchased in October 2013 for a total cost of $72mm ($17.75mm Equity). The property was gradually improved and sold four and a half years later realizing a 16% IRR.

View More Transactions

Spruce Capital

151 East 78th Street, New York, NY

Spruce assembled land and air-rights in five separate closings. Spruce then built 151 East 78th Street, a 16-story condominium consisting of  14 luxury apartments. Spruce proceeded to finish construction in 24 months and sold out the units during construction for approximately $3100 per square foot.

View More Transactions

Spruce Properties

Crystal Woods, Alexandria VA

Spruce identified 344 workforce housing units 10 miles outside of Washington DC which they purchased in October 2013 for a total cost of $72mm ($17.75mm Equity). The property was gradually improved and sold four and a half years later realizing a 16% IRR.

View More Transactions