RWN Real Estate Partners and Silverstone Property Group have announced the sale of The Grayson, a 17-story, 128-unit residential building located at 247 East 28th Street in Kips Bay, for $99.75 million.
Martin Nussbaum, principal and co-founder of Silverstone and Ari Shalam, managing partner of RWN, originally purchased The Grayson for $53 Million in February 2012.
RWN Real Estate Partners paid $3.8 million for a retail condominium at 328 Bowery, where the firm has appointed RKF as exclusive leasing agent for the space, The Commercial Observer has learned.
RWN will redevelop the 4,114-square-foot space and the existing storefronts, giving one to two prospective tenants 100 feet of wraparound frontage at the corner Read More
James Nelson recently ushered a dozen Colgate University undergraduate students on a tour through The Abingdon, a West Village nursing home-turned-luxury condo where some units, which sold out this month, ran for more than $10 million.
With the help of his team, Mr. Nelson, a partner at Massey Knakal, sold the property at 607 Hudson Street for just over $33 million to Flank Architects in 2011 on behalf of nonprofit group VillageCare, which previously ran a nursing home there.
Much like the undergrads, the investment sales heavyweight traveled The Abingdon’s hallways with looks of awe, as Jon Kully, a principal at Flank, led the group into its sprawling condos. The building bore no resemblance to the nursing home Mr. Nelson had first stepped foot into in 2007. “They had 200 beds packed in there, and it wasn’t up to code, and it was in desperate need of renovation,” he said. “This was a complete transformation. It really was amazing what they did, and to know that I had a small part in making that happen was great.”