Portfolio purchase

Related Fund Management

Our attorneys 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.

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