Maryland fund buys Boerum Hill rental for $154M

A Maryland-based real estate fund scooped up a Boerum Hill apartment complex for $154.3 million. The Multi-Employer Property Trust purchased the Addison, a 271-unit rental building owned by Waterton Residential, MEP’s representatives announced on Tuesday. Parts of the property, located at 225 Schermerhorn Street, are beneficiaries of the 421a tax abatement. Two of the property’s […]