CIM Group has made its first foray into Westchester County by acquiring a new 135-unit apartment building in White Plains, NY, in partnership with Japan’s Hulic Co., Ltd. Although financial terms were not disclosed, the Westfair Business Journal reported that the asset sold for $64.3 million.
Located at 51 S. Broadway, the property was completed in 2025 by Connecticut-based developer RMS Cos. The eight-story building, dubbed 51 South, features contemporary studio, one- and two-bedroom apartments, along with more than 20,000 feet of amenities including a coworking space and indoor and outdoor lounges.
“We believe the market benefits from strong fundamentals, connectivity to New York City, and continued demand for quality housing,” said Shaul Kuba, Co-Founder and Principal, CIM Group in a statement.
CIM Group has delivered more than $60 billion of real estate and infrastructure projects across the Americas. The company previously partnered with Hulic on the purchase of a 166-unit apartment community in West Hollywood, CA this past July.
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