Clipper Sells Casa Hope for $122.5M, 9.6x Its 2013 Land Price
The seller-side entity paid $12.75M for three lots in 2013, refinanced with an $85M Valley National loan in 2023, and sold 13 years later.
The owner of Casa Hope in Williamsburg sold it on September 3, 2026 for $122,500,000, roughly 13 years after the same site changed hands for $12,750,000, according to city deed records.
Why it matters
The ACRIS deed, recorded September 9, moves 130 Hope Street (Brooklyn block 2386, lot 7) from HOPE-KEAP OWNER LLC to HOPE ST ACQUISITIONS LLC. Crain’s and Commercial Observer report that the seller is Clipper Equity, David Bistricer’s firm, and that the buyer is Eric Mann’s Mann Group. The deed does not name either sponsor, so that link comes from the trade press. Crain’s reports the building as 150 units, 70 percent market-rate, with more than 30 years left on its 421-a tax abatement. That is the feature that makes the price work: the tax break travels with the building.
The numbers
At the reported 150 units, the price is about $817,000 a unit. The city’s PLUTO file counts 143 residential units and a 2022 build year for the lot, which would put the price near $857,000 a unit; we could not reconcile the 150 and 143 figures from the record. The land side is clearer. A September 2013 deed shows RHS Hope LLC selling to Hope Keap LLC for $12,750,000, and it covered lots 7, 12 and 14, so the lot 7 share is lower and the 9.6x multiple is a ceiling. The two deeds are 4,742 days apart. A 2020 deed moved lot 7 into the current seller entity at $0 consideration on the deed, with a companion transfer-tax return listing $24.7 million between affiliated-looking LLCs; we did not treat that as a market sale.
Financing shows how the capital stack grew. ACRIS lists two Bank Leumi mortgages ($30,088,409 and $11,671,591) recorded in July 2021, then a $16,000,000 Valley National mortgage and an $85,000,000 assignment of leases and rents recorded December 21, 2023, matching the $85 million refinancing Traded reported. We found no buyer mortgage on the lot in the records available to us as of September 28.
What’s next
Watch ACRIS for a satisfaction of the Valley National debt and for any acquisition mortgage from HOPE ST ACQUISITIONS LLC, which would show how Mann Group financed the purchase. The record also leaves open whether the 421-a benefit is fully transferable at this price. For more Brooklyn and citywide deal flow, see our New York market coverage.
On the record
What we checked ourselves, and where you can check it too.
- Public recordPulled the full ACRIS chain for Brooklyn block 2386 lot 7 back to 1973. The site was acquired in a $12,750,000 deed dated September 9, 2013 covering three lots (7, 12 and 14), and the $122,500,000 deed to HOPE ST ACQUISITIONS LLC is dated September 3, 2026, 4,742 days later, so the sale price is 9.6 times the 2013 land price. Because the 2013 deed included two other lots, that multiple is an upper bound for lot 7 alone.View the record on a836-acris.nyc.gov
- Public recordTraced the financing on the lot: Bank Leumi USA mortgages of $30,088,409 and $11,671,591 recorded July 8, 2021, then a $16,000,000 Valley National mortgage and an $85,000,000 assignment of leases and rents to Valley National recorded December 21, 2023. That matches the $85 million refinancing Traded reported.View the record on a836-acris.nyc.gov
- Public recordChecked the unit count against the city's PLUTO tax-lot file, which lists 143 residential units and a 2022 build year for the lot, against 150 units in Crain's coverage of the sale.View the record on data.cityofnewyork.us
Sources
- NYC ACRIS, DocumentDetail 2026090300972001Deed, HOPE-KEAP OWNER LLC to HOPE ST ACQUISITIONS LLC, $122,500,000, Brooklyn block 2386 lot 7, dated September 3, 2026, recorded September 9, 2026
- NYC ACRIS, DocumentDetail 2013091800086001Deed, RHS HOPE LLC to HOPE KEAP LLC, $12,750,000, block 2386 lots 7, 12 and 14, dated September 9, 2013, recorded September 26, 2013
- NYC ACRIS, DocumentDetail 2023122000679003Assignment, leases and rents, HOPE-KEAP OWNER LLC to VALLEY NATIONAL BANK, $85,000,000, dated December 14, 2023, recorded December 21, 2023
- NYC Open Data, PLUTO (64uk-42ks)BBL 3023860007: 143 residential units, built 2022, owner of record HOPE-KEAP OWNER LLC
- Crain's New York BusinessClipper Equity offloads Williamsburg residential building for $122.5 million
- Commercial ObserverMann Group Buys Luxury Apartments at 130 Hope Street in Williamsburg
- TradedClipper Equity refinances Casa Hope with an $85M loan from Valley National Bank