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Brokerage
Posted: September 10, 2012
Silverstone Property Group acquires 143-145 West 4th Street for $11.325 million
Silverstone Property Group has acquired 143-145 West 4th St. in the Greenwich Village neighborhood. The two contiguous five-story buildings comprise a total of 21,364 s/f and contain 26 apartments. Silverstone purchased the buildings for $11.325 million.
"Given their close proximity to Washington Sq. Park, NYU, and the West Village, these buildings were a rare opportunity to buy assets with significant upside in one of the most sought after residential neighborhoods in N.Y.C.," said Silverstone managing principal, Martin Nussbaum, who was drawn to the location with the purchase. The properties were sold by Massey Knackal's James Nelson who represented both the buyer and the seller, Lurose Realty Corp.
Managing director, Steven Figari, said, "Silverstone plans to redevelop the properties into a high-end rental building through the immediate renovation of the 20 free-market units."
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