HUBB NYC is purchasing an 11-building multifamily portfolio spanning the Upper East and Upper West Sides of Manhattan for a price tag of $190 million, a source has told GlobeSt.
The deal with Denver-based REIT AIR Communities consists of 361 units spanning 209,190 square feet, with the largest properties being 181-199 Columbus, 182-188 Columbus and 464-466 Amsterdam.
Privately-held HUBB NYC owns and operates free market, rent stabilized and rent controlled homes in the New York City area. AIR Communities spun out of AIMCO last year and will shift its focus away from New York City and into the South and Sun Belt.
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