From the in-box: Silverstone Property Group has purchased 157 Suffolk Street, a six story tenement building, for $8.8 million. According to a press release, the new owners 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.”
157 Suffolk, between Houston and Stanton, is a 22,398 sq./ft. building with 33 apartments and two retail stores. Back in 2007, then owner Muriel Realty put the property on the market for $15 million.