Mann Group Buys Luxury Apartments at 130 Hope Street in Williamsburg

Clipper Equity’s hopes have been realized in the sale of a luxury rental building at 130 Hope Street in Williamsburg, Brooklyn, Commercial Observer has learned.

Clipper sold the 150-unit building — which it completed in 2023 and dubbed Casa Hope — to New York City-based investor and developer the Mann Group for $122.5 million, according to broker Rosewood Realty Group.

One-bedroom units in the new development just one block east of the Brooklyn-Queens Expressway start at $4,700 per month.

“The sale of 130 Hope Street reflects the strong demand we’re seeing for new construction properties across the boroughs. With a 35-year, 421-a tax abatement in place, buyers benefit from decades of low property taxes paired with a mainly free-market building,” Rosewood’s Alex Fuchs said in a statement. 

“Williamsburg continues to be one of the most desirable neighborhoods in Brooklyn, and this marks the second new construction sale we’ve closed in the neighborhood this quarter,” Fuchs added.

Fuchs represented the seller and arranged the buyer alongside Aaron Jungreis and Ben Khakshoor of Rosewood.

Spokespeople for Clipper and the Mann Group did not immediately respond to  requests for comment.

The other Williamsburg deal mentioned by Fuchs was likely the sale of 227 Grand Street by Hutton Capital to Michael Shah’s DelShah Capital back in early July as part of a larger acquisition sweep of mixed-use residential properties in Williamsburg amounting to $127.8 million.

Mark Hallum can be reached at mhallum@commercialobserver.com.