Silverstone drops $5.5M on Noho apartment building

Steve Figari and 17-19 Bleecker Street

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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. The firm has been active as of late, acquiring four New York City buildings in the last year, including a stalled Williamsburg development in April and is in contract for $15 million more worth of New York City properties which it expects to close on this summer. — Adam Fusfeld