Silverstone Property Group acquires 17,080 s/f building-$5.5 million

Silverstone Property Group, a New York City based full service real estate company, has acquired 17-19 Bleecker St., located in the NoHo neighborhood. The six-story, 17,080 s/f residential apartment building is fully leased and contains 12 loft-style apartments and two retail stores. Silverstone purchased the building for $5.5 million (or $322 per s/f) from a private seller. Steve Figari, a managing director at Silverstone, is excited about the new building and its potential. "Silverstone will be renovating 17-19 Bleecker into a luxury rental building bringing renovated, loft residences to the market in the next 6 months." Its fourth acquisition in the past 12 months, Silverstone has added over 100 units to its expanding portfolio of apartment buildings in New York City. "Silverstone continues to take advantage of our network and relationships to purchase off-market properties with strong upside," said Martin Nussbaum, Silverstone's managing principal. Silverstone is currently in contract on $15 million worth of properties which it expects to close on in the next three months. Silverstone Property Group is a New York City based full-service real estate company with operations in investments/acquisitions, property management, asset management, new development consulting and construction supervision. For more information, please contact Martin Nussbaum: Martin Nussbaum Silverstone Property Group 825 Third Avenue, 37th Floor New York, NY 10022 Tel.: (646) 786-8000 Fax: (646) 435-9223 [email protected]