Business > Commercial Real Estate

HUBB NYC picks up Williamsburg rental for $78M

3 monthes ago   |   By The Real Deal New York

With the expiration of 421a, buildings with the coveted tax exemption will be harder for future investors to come by. And development of apartment buildings is expected to slow, boosting competition for existing ones. HUBB NYC continues to snap up the tax-favorable properties. The investment firm just paid $76.8 million to buy a 130-unit rental building at 150 Union Avenue in Williamsburg. The seller, Adam America Real Estate, developed the building with 421a in 2015.
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