Martin Nussbaum, a founding principal at Manhattan-based Silverstone Property Group, has started a new real estate investment firm. The venture, called Slate Property Group, aims to be a player in the same asset classes — multifamily rental and mixed-use buildings in Manhattan and Brooklyn — that have made Silverstone a force to be reckoned with in recent years, Nussbaum said.
He said that two top Silverstone executives — Steven Figari and Michael Zampetti — would join the new firm. Nussbaum said there was no trouble brewing between him and Silverstone’s other founders. He also stressed that he would continue to be involved in Silverstone as an owner and an asset manager, though Josh Zegen, a cofounder of Silverstone with Brian Shatz, said that Nussbaum had left the firm.
Brokers and collaborators who have worked on deals with Silverstone said that Nussbaum’s move was likely the result of an internal power struggle.