HUBB NYC pays $84M to Adam America for rental in Williamsburg

Steve Dluzyn’s HUBB NYC through the entity 123 Hope Street LLC paid Adam America Real Estate’s Shuster Hope LLC $83.8 million for 123 Hope Street in Williamsburg. The deal closed on March 26, 2020, and was recorded on March 27, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 136 residential units.

The Daily Beat reported the broker was David Ash of Prince Realty Advisors. Adam America and Slate Property Group bought the development site in 2015 for $31.5 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 136 residential units on August 6, 2018.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $5,000,000. Those filings sought to increase the number of residential units by 136 to 136 There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $966,040.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link