CIM Group Expands New York Portfolio with Acquisition of 134-Unit Apartment Community in White Plains

LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today the acquisition of 51 South, a 134-unit apartment community in White Plains, NY, in partnership with Hulic Co., Ltd.

51 South is an eight-story building located at 51 S. Broadway in the heart of White Plains. Completed in 2025, the community offers contemporary studio, one- and two-bedroom residences with access to more than 20,000 square feet of best-in-market amenities, including coworking space, indoor and outdoor lounges, and a variety of sports and recreational activities.

The acquisition of 51 South further expands CIM Group’s New York portfolio and reflects the company’s conviction in the market. CIM has been an active owner, operator, lender, and developer in the New York metropolitan area for more than 15 years, with approximately $4 billion of equity investment across projects representing over $10 billion in total project value since 2010.

"We are pleased to add 51 South to our New York portfolio and make our first investment in Westchester County," said Shaul Kuba, Co-Founder and Principal, CIM Group. "We believe the market benefits from strong fundamentals, connectivity to New York City, and continued demand for quality housing. We look forward to expanding our presence in Westchester and pursuing additional opportunities across the region.”

51 South benefits from its location within a vibrant neighborhood offering a broad mix of restaurants, entertainment venues, outdoor spaces, and arts and cultural attractions. The property offers convenient access to Metro-North rail service, with Manhattan's Grand Central Terminal approximately 38 minutes away, as well as Interstate 287 and major employment centers. White Plains is one of Westchester County's leading business and residential hubs, home to major employers, higher education institutions, shopping destinations, and government offices.

For more than 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

For more information about 51 South, visit www.51southwhiteplains.com.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. For more information, visit www.cimgroup.com.