One23 Apartments in Union City changes hands for $31m

Maya Capital Partners and Harbor Group International paid $31m for a class A luxury residential building in Union City, New Jersey. Completed in 2018, One23 Apartments includes 80 units on 10 floors. The property is fully leased. “This acquisition is consistent with MCP’s strategy to increase its holdings of stabilized assets in core markets,” said Samir Mistry, managing partner at MCP. The purchase is in line with MCP’s strategy to increase its multifamily holdings in major markets across the northeast, with a focus on the Tri-State area.