Rabsky Group sells North Williamsburg rental to UDR
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.