Thursday, February 17, 2011

The Lower East Side gets another 'high-end boutique residential rental property'

From the EV Grieve inbox...

Silverstone Property Group, a New York City based full service real estate company, is pleased to announce the acquisition of 157 Suffolk Street ... The 6 story, 22,398 square foot residential apartment building consists of 33 apartments and 2 retail stores. Silverstone purchased the building for $8.8M, or approximately $392 per square foot, in an all-cash, off-market transaction with the private seller. Silverstone will be renovating the building to create a high-end boutique residential rental property, as well as leasing the retail space which has been vacant for many years.


Sooo... dumb question, but what happened to all the former residents of this pre-high-end boutique residence? Buy outs?
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4 comments:

  1. MarcFebruary 17, 2011 at 11:50 AM

    most of the buildings apartments were already vacant. I assume the ones left are being bought out.

    ReplyDelete
  2. AnonymousApril 4, 2011 at 8:10 AM

    There are 7 apartments left here as of April 2011 and we are suffering through months of demolition and construction.

    ReplyDelete
  3. EV GrieveApril 4, 2011 at 2:51 PM

    Ugh. Sorry to hear this anon. Any buyouts coming?

    ReplyDelete
  4. AnonymousApril 19, 2011 at 12:06 AM

    I used to live in the building but they forced me and my room mate to move out. I heard they were trying to buy people out for $13,000.

    Here's a video what's going on.

    http://www.youtube.com/watch?v=8LNZLLOxRas

    ReplyDelete

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