MCP, Harbor Group acquire luxury property in Union City for $31M

A joint venture between New York City-based Maya Capital Partners and Norfolk, Virginia-based Harbor Group International, both real estate investment firms, announced Tuesday they have acquired an 80-unit, Class A luxury residential building in Union City for $31 million.

The property, One23 Apartments, was built in 2018 and features high-end amenities and finishes, MCP said.

“This acquisition is consistent with MCP’s strategy to increase its holdings of stabilized assets in core markets,” Samir Mistry, managing partner of MCP, said.

The building is fully-occupied and is within close access to Manhattan, MCP said.

Other terms of the deal were not disclosed.