UDR Buys NYC Building For $138M

Publicly traded multifamily REIT UDR has acquired a luxury apartment building in New York City. The property, 21 Chelsea, was acquired for about $138 million, adds GlobeSt.

The acquisition is part of UDR’s current loan, which also includes the Rivergate apartment tower in Murray Hill and View 14 in Washington, DC. The three communities were bought for $687 million.

Click here for the release from Business Wire.