The Real Deal New York

Posts Tagged ‘silverstone property group’

  • 609Myrtle

    609 Myrtle Avenue in Brooklyn

    The Pratt Post Office is relocating from Clinton Hill to Bedford-Stuyvesant, having signed a lease for the ground floor of an NAM Realty Associates-owned five-story condominium building.

    Silverstone Development Group acquired the post office’s building at 524 Myrtle Avenue in 2012 and opted not to renew its lease. Mail sorting for delivery will not occur at the new 4,150-square-foot space at 609 Myrtle Avenue. [more]

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  • From left: Josh Zegen, the Grayson and Andrew Scandalios

    From left: Josh Zegen, the Grayson and Andrew Scandalios

    Silverstone Property Group has sold the Grayson, a rental building at 247 East 28th Street in Kip’s Bay, for $99.75 million, The Real Deal has learned.  [more]

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  • From left: Silverstone's Josh Zegen, 143-145 West 4th Street, Joseph Koicim and Peter Von Der Ahe

    From left: Silverstone’s Josh Zegen, 143-145 West 4th Street, Joseph Koicim and Peter Von Der Ahe

    Silverstone Property Group has sold a West Village multi-family building for $19.2 million, after buying it for $11.3 million just over a year ago, the company told The Real Deal exclusively. [more]

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  • From left: Martin Nussbaum and Josh Zegen

    From left: Martin Nussbaum and Josh Zegen

    Martin Nussbaum, a founding principal at Manhattan-based Silverstone Property Group, has started a new real estate investment firm, he told The Real Deal exclusively. The venture, called Slate Property Group, is aiming to be a player in the same asset classes – multi-family rental and mixed-use buildings in Manhattan and Brooklyn – that have made Silverstone a force to be reckoned with in recent years, Nussbaum said. [more]

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  • Nussbaum-33rd-Jacobov-Katz1

    From left: Martin Nussbaum, 489 Third Ave. (photo credit: PropertyShark), Barak Jacobov and Yosef Katz

    Silverstone Property Group and RWN Real Estate Partners have ponied up $71.5 million for seven adjacent properties at 33rd Street and Third Avenue, their second big purchase in Kips Bay, The Real Deal has learned from insiders. [more]

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  • TerraCRG's Ofer Cohen and the McDonald's site

    TerraCRG’s Ofer Cohen and the McDonald’s site

    A partnership between Silverstone Property Group and Adam America Real Estate has acquired a Park Slope development site for $14.8 million, almost $3 million above the asking price, according to an announcement from TerraCRG, the Brooklyn brokerage that handled the transaction. The buyers intend to build a 75-unit rental building with 6,000 square feet of retail space. [more]

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  • 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. [more]

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  • Myrtle Avenue in Clinton Hill

    Myrtle Avenue in Clinton Hill

    Silverstone Property Group will bring two buildings with 240 rental apartments to Clinton Hill’s Myrtle Avenue, at the former site of the Associated Supermarket, the New York Times reported. [more]

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  • Martin Nussbaum

    Martin Nussbaum

    From the May issue: How many buildings does Silverstone own?

    We own and manage over 35 buildings. The buildings are located predominantly in Manhattan and Brooklyn. We have buildings that are as small as 10 units, and we’re under construction on buildings as large as 200 units. About 95 percent of the portfolio is rental, but we’ve recently started working on two or three new condo deals. [more]

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  • 504-518 Myrtle Avenue — a portion of Silverstone’s acquisition (credit: PropertyShark)

    Myrtle Avenue in Clinton Hill is going to have a radically different look, with a new residential project by Silverstone Property Group going up where a string of small shops now do business, DNAinfo reported. [more]

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  • Dumbo warehouse (source: Brooklyn Paper and Stefano Giovannini)

    Dumbo could soon see a massive new retail center along Jay Street, after last month’s $25 million sale of a block-wide warehouse to Silverstone Property Group, the Brooklyn Paper reported.

    The nearly football field-sized building, located between Water and Plymouth streets in Dumbo’s historic district, is perfect for a major commercial development, like a supermarket or something even bigger, according to Justina Lombardo, a spokesperson for Massey Knakal Realty Services, which handled the sale of the building.   [more]

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  • 157 Suffolk Street

    A Lower East Side rental building at 157 Suffolk Street has been traded to the real estate investment company Niantic Partners for $18 million, city records filed today show. The building was sold by an LLC called 157 Suffolk Street Investors, an affiliate of Silverstone Property Group. According to its website, Silverstone provides property management, construction supervision and asset management throughout New York. Niantic, which owns several office buildings around Manhattan, purchased the property under an LLC identified in documents as 157 Suffolk Street JV. … [more]

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  • Silverstone’s Martin Nussbaum and the Williamsburg development site

    Manhattan-based real estate company Silverstone Property Group is planning to break ground on a 170-unit rental project in Williamsburg following its $21.66 million purchase of a 170,000-square-foot vacant site in the neighborhood, sources told The Real Deal.

    Silverstone, which recently completed development of a 28-unit rental at 65-69 North 6th Street, will begin construction on its new venture within the next 60 to 90 days, sources said. The site is composed of several parcels at 246-248 North 8th Street and at 251-255 North 8th Street. The building will be accessible via two entrances, one on North 7th Street and one on North 8th Street, sources said. [more]

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  • Silverstone’s Martin Nussbaum and a walk-up he recently purchased at 162 East 82nd Street (building credit: PropertyShark)

    Rising rents are fueling demand for previously overlooked Manhattan walk-up apartment buildings, according to the New York Times. Seventy-one such properties sold in the second quarter of this year, a 115 percent increase from the same period in 2009, Eastern Consolidated research shows. And as prices rise, sales volume has increased even more dramatically: $640 million worth of properties traded hands in the first half of this year, up 205 percent from the same period three years ago.  [more]

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  • Citi Habitats' Clifford Finn and 247 East 28th Street

    The white-hot rental market and the shifting demographic of renters has compelled more New York City landlords to invest in extensive renovations of their rental properties, according to the Wall Street Journal. Landlords of apartment buildings that are 10 to 30 years old are spending millions to gut renovate well-located buildings and raise rents 10 to 40 percent. [more]

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  • From left: Martin Nussbaum, managing partner of Silverstone Property Group, and 247 East 28th Street

    Silverstone Property Group, along with equity partner RWN Real Estate Partners, plan a $12 million repositioning of the Murray Hill apartment building they acquired last week for $53 million.

    As reported in the Post today, Silverstone bought the 17-story, 128-unit building at 247 East 28th Street, on the corner of Second Avenue, for $53 million from Samson Management. Steven Vegh, managing partner at Multi Investment Group, was the sole broker in the off-market transaction. The Real Deal learned that Silverstone formed an equity partnership with RWN Real Estate Partners to complete the purchase. [more]

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  • Steve Figari and 17-19 Bleecker Street

    Silverstone Property Group has purchased a six-story apartment building in Noho for $5.5 million, or $322 per square foot, the company announced today. The 17,080-square-foot building, at 17-19 Bleecker Street between Elizabeth and Mott streets, has 12 apartments and two retail spaces, currently occupied by an antique shop called Crocodile and a salon called Q Hair. All 12 units are currently leased, according to Silverstone. The seller, according to public records, is an LLC called 17-19 Bleecker Street, which bought the building in 1996. “Silverstone will be renovating 17-19 Bleecker into a luxury rental building bringing renovated, loft residences to the market in the next six months,” said Steve Figari, managing director at Silverstone. – Adam Fusfeld[more]

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  • alternate text
    65-69 North 6th Street rendering

    Midtown-based real estate company Silverstone Property Group paid $4.3 million for a stalled mixed-use development site at 65-69 North 6th Street near Wythe Avenue in Williamsburg, the firm said in a statement.

    Silverstone plans to finish construction of the six-story, approximately 30,000-square-foot building, which will have 28 residential units above 4,100 square feet of retail space, Martin Nussbaum, the company president said.

    It is the first purchase in Brooklyn for the company, which owns about $35 million worth of assets in the New York area, Nussbaum said. TRD[more]

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  • alternate text
    From left: Garret Thelander and Paul Massey

    Massey Knakal Realty Services has tapped Anglo Irish Bank executive Garrett Thelander, who helped open the New York office of the troubled lender and grow its staff to 35, to lead its new mortgage division, it was expected to be announced today.

    Thelander, 55, is once again charged with starting a new office, this time as a managing director for Massey Knakal, to hire brokers and develop the new arm, Paul Massey, company CEO, told The Real Deal.

    The hiring of the bank executive comes two weeks after Massey Knakal launched a retail brokerage division, bringing in long-time retail agent Benjamin Fox for that job. At the same time, the firm has had significant defections, including a top producer for the firm, Shimon Shkury, who left with his team to open the new firm Ariel Property Advisors. … [more]

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  • alternate text
    From left: Landon McGaw and Kobi Leifer

    And then there was one.

    The New Jersey office for investment sales firm Massey Knakal Realty Services is down to one salesperson from a peak of five following today’s resignation of the region’s managing director.

    The news comes a day before Massey Knakal is set to announce that for the first time it has hired a retail leasing broker, and one week after one of the firm’s top producers, Shimon Shkury, departed with his entire team to form Ariel Property Advisors. In related news, two sources said Massey Knakal has hired a new retail leasing broker focusing on Manhattan. Company CEO Paul Massey would not comment on the new hire or identify the individual. … [more]

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