Kaye Scholer Advises Related Fund Management on Williamsburg Portfolio Purchase
Kaye Scholer represented an affiliate of Related Companies in its $60-million purchase of three rental properties in South and East Williamsburg from a partnership between Rockpoint Group and Urban American. The walk-up properties at 164 Havemeyer Street, 181 Havemeyer Street and 442 Lorimer Street include 104 units, some of them rent-stabilized, as well as ground-floor retail space.
A spokesperson for Related said the properties “will not only provide housing for the City’s workforce, but also offer the ability to bring a dynamic mix of retail tenants to the neighborhood.”
Related is best known for co-developing the Hudson Yards megaproject on Manhattan’s Far West Side and has been an active investor in rental housing in the outer boroughs in recent years.
The Kaye Scholer team advising Related Fund Management included Real Estate partner Jeannie Bionda, counsel Matthew Cudrin and associate James Zimmer.