RXR Realty Acquires Multifamily Building In Dumbo From CIM Group & LIVWRK For $220M

A multifamily property located at 85 Jay Street in Dumbo has been sold for approximately $220,000,000. The property consists of 320 units, resulting in a price per unit of $687,500. The sale took place on April 13, 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $220,000,000
• Address: 85 Jay Street
• Market: Dumbo

The buyer of the property was RXR Realty, while the sellers were CIM Group and LIVWRK. The deal was facilitated by brokers Adam Spies, Adam Doneger, Doug Harmon, Marcella Fasulo, Michael Collins, and Dan O'Brien, representing Cushman & Wakefield.