Silvera Properties buys Tribeca site for $25M

Hamptons developer plans resi conversion of Leonard Street and West Broadway properties

New York /
Jul.July 11, 2018 05:07 PM

29-31 Leonard Street

Silvera Properties, a Hamptons homebuilder, has purchased a collection of three Tribeca buildings for $24.5 million, according to sources familiar with the deal.

The sites at 29-31 Leonard Street and 198 West Broadway span 29,500 square feet and come with no additional square footage, as they are already overbuilt.

The seller is Transit Trading Corporation, a spices importer that has owned 198 West Broadway since the 1970s and has since vacated the property.

David Silvera’s firm intends to do a residential conversion on the property, and the current tenants have already left, according to sources familiar with the deal. The buildings cannot be demolished because they are part of the Tribeca West Historic District.

A JLL team led by Glenn Tolchin, Yoav Oelsner and Anthony Ledesma represented the seller. They declined to comment on the deal.

Transit Trading Corporation and Silvera did not respond to requests for comment.

Silvera is also developing a 28,000-square-foot rental building at 106 South Street at the South Street Seaport.


Related Articles

arrow_forward_ios
Gopuff co-CEO Rafael Ilishayev (Gopuff, iStock)
Gopuff scaling back warehouse footprint amid rapid-delivery slowdown
Gopuff scaling back warehouse footprint amid rapid-delivery slowdown
Incoming WeWork CFO Andre Fernandez (WeWork, iStock)
WeWork names new CFO
WeWork names new CFO
Brian R. Steinwurtzel and 100 Pearl Street (GFP Real Estate, LoopNet, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Squash club starting a racket at 100 Pearl Street office tower
Squash club starting a racket at 100 Pearl Street office tower
Upflex co-founders Christophe Garnier and Ginger Dhaliwal (Upflex, LinkedIn/Ginger Dhaliwal, iStock)
Upflex raises $30M, signaling rise of flex-office aggregators
Upflex raises $30M, signaling rise of flex-office aggregators
Vorea Principal's Peter Papamichael with 10-04 Borden Ave (Vorea Group, iStock)
Skydiver lands first NYC location in Long Island City
Skydiver lands first NYC location in Long Island City
Two Trees Management's Jed Walentas and 50 West 23rd Street (Walentas/via Marc Skrivo, Google Maps, iStock)
Trustpilot takes 34k sf at Two Trees’ Midtown South building
Trustpilot takes 34k sf at Two Trees’ Midtown South building
Bruce Brickman and 35-11 9th Street (Young Jewish Professionals, Google Maps)
Astoria cigar factory converted to offices highlighted NYC i-sales last week
Astoria cigar factory converted to offices highlighted NYC i-sales last week
BlackRock's Larry Fink, with 98 Riverside Drive (BlackRock)
BlackRock sells stabilized UWS rental for $90M after landmark designation
BlackRock sells stabilized UWS rental for $90M after landmark designation
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...