Mann Group acquires Brooklyn luxury rental property for $122.5 million

Mann Group, a New York-based investment and development firm, has acquired the luxury rental property ‘Casa Hope’ in Williamsburg, Brooklyn, for $122.5 million. The transaction was completed by Clipper Equity.

Located at 130 Hope Street, the newly completed 2023 development consists of 150 residential units. The property benefits from a 35-year tax incentive under the 421-a program, which provides low property taxes for several decades. According to Rosewood Realty Group, rental rates for the units start at $4,700 per month.