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UDR acquires 395 Leonard Street for $132.2 million

Rabsky Group sells North Williamsburg rental to UDR

UDR's North Williamsburg Rental
395 Leonard Street (Credit: StreetEasy)

UDR has acquired 395 Leonard Street in North Williamsburg from Simon Dushinsky’s Rabsky Group for $132.2 million. The multi-family property spans 186,779 square feet, and contains 188 apartments.

Tax abatement: The property benefits from a 421a tax exemption that expires in 2040., according to TRD. Apartment rents range from $2,860 per month (1 BR) to $4,615 (2 BR). 

Flashback: Rabsky paid $18 million for the development site 2012.

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