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Mann Group buys Casa Hope luxury rentals at 130 Hope Street

The 150-unit building was completed in 2023 and sold for $122.5 million, with one-bed rents starting at $4,700 per month.

Reported · Written up by our desk · Residential

Commercial Observer reports that Clipper Equity sold the 150-unit luxury rental building at 130 Hope Street in Williamsburg, Brooklyn, known as Casa Hope, to New York City-based investor and developer the Mann Group for $122.5 million.

The property was completed in 2023, and one-bedroom units in the development, located about one block east of the Brooklyn-Queens Expressway, start at $4,700 per month, according to the report.

Rosewood Realty Group said the deal reflects strong demand for new construction across Brooklyn and pointed to a 35-year, 421-a tax abatement that is in place, describing it as enabling buyers to benefit from decades of low property taxes alongside a mainly free-market building.

Rosewood’s Alex Fuchs said the sale was the second new construction transaction Clipper and the team had closed in Williamsburg this quarter, with Fuchs representing the seller and arranging the buyer along with Aaron Jungreis and Ben Khakshoor.

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