500 Metropolitan

HNCP originated the opportunity to acquire a non-performing maturity defaulted senior mortgage collateralized by the 187-key Indigo Williamsburg Hotel and 75 residential units.

Property Info

In addition, the Apartments benefit from a 421a tax abatement with expirations in 2037 and 2045, providing for a significant remaining tax abatement. Additionally, the Hotel and Commercial benefit from a real estate tax exemption via the Industrial & Commercial Abatement Program (ICAP) expiring in 2042/2043.