Sec Form 3 Filing - Bergeron Douglas @ Appreciate Holdings, Inc. - 2022-11-29

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Bergeron Douglas 2. Issuer Name and Ticker or Trading Symbol Appreciate Holdings, Inc. [ SFR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O APPRECIATE HOLDINGS, INC., 6101 BAKER ROAD, SUITE 200 3. Date of Earliest Transaction (MM/DD/YY) 11/29/2022 (Street) MINNETONKA,, MN55345 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Bergeron Douglas C/O APPRECIATE HOLDINGS, INC. 6101 BAKER ROAD, SUITE 200 MINNETONKA,, MN55345 X Signatures /s/ Luisa M. Surmak, Attorney-in-Fact 12/09/2022 Signature of Reporting Person Date

Explanation of Responses:

Remarks: Lake Street Landlords, LLC ("Lake Street") is the record holder of 20,132,807 shares of Class B Common Stock in Appreciate Holdings, Inc. ("Appreciate Class B Common Stock"). Through Mr. Bergeron's investment vehicle where he is the sole shareholder (DGB Investment), Mr. Bergeron indirectly holds shares of Appreciate Class B Common Stock as a result of his (i) beneficial ownership of 3,577,770 units in Lake Street (which equates to 2,039,288 shares of Appreciate Class B Common Stock) and (ii) ownership of 77,598 of Lake Street units (which equates to 47,364 shares of Appreciate Class B Common Stock) through his investment in NPG Fund I. Mr. Bergeron disclaims beneficial ownership of Appreciate Class B Common Stock. Exhibit 24.1 - Power of Attorney (attached as an Exhibit)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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