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New York

Silverstone’s Williamsburg apartment project trades for $29M

Silverstone's Martin Nussbaum, rendering of 65 North 6th Street
Silverstone's Martin Nussbaum, rendering of 65 North 6th Street

Developers Silverstone Property Group and Adam America Real Estate Group have sold a mixed-use Williamsburg property to an undisclosed purchaser for $28.75 million, according to a release from the sellers.

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The property, located at 65-69 North 6th Street, is composed of 28 luxury rental apartments and 4,000 square feet of ground-floor retail space, reworked from the previous owner’s plans for a 24-unit condominium development. The property also offers 14 off-street parking spots. It was fully leased within 30 days of the building’s opening.

Silverstone and Adam America are also in the process of developing a new 170-unit rental property on North 7th and North 8th streets in Williamsburg, as well as a 70-unit condo building in DUMBO, on Water Street. Adam America’s newest rental building, at 53 Broadway in North Williamsburg, is slated to open next month. –Julie Strickland

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Silverstone Property Group