HUBB NYC Properties Acquires Multifamily Asset In Dumbo From City Urban Realty & Stellar Management For $20.3M

The transaction involves a multifamily asset located at 260 Water Street in Dumbo. The sale price was $20,300,000, with the property comprising 26 units, resulting in a price per unit of $780,769. The total square footage of the property is 28,358, translating to a price per square foot of $715.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,300,000
• Address: 260 Water Street
• Market: Dumbo
• Units: 26
• Price per Unit: $780,769
• Square Footage: 28,358
• Price per Square Foot: $715

The buyer of the property is HUBB NYC Properties, while the sellers are City Urban Realty and Stellar Management. The brokers representing this transaction include Daniel O'Brien, Caroline Hodes, and Henry Hill from Newmark. City Urban Realty is currently engaged in multiple 1031 exchanges and is actively acquiring value-add multifamily, office, and retail assets in specific areas.