Silvershore Nabs Bushwick Package for $4.05M
Lauren Elkies Schram Aug. 29, 2014, 1:07 p.m.
Silvershore Properties has picked up four attached three-story mixed-use buildings in the Bushwick section of Brooklyn in a direct deal for $4.05 million.
David Shorenstein, the company’s principal, said it’s a “very hot” neighborhood and over time his company plans to renovate the buildings, which are at 1446, 1448, 1450 and 1452 Myrtle Avenue, raise the below-market rents and bring in “better tenants for the retail.” They all are fully occupied one- to three-family buildings with retail on the ground floor. The four retail tenants have leases expiring over the next few years, he said.
The sale closed on Aug. 22 and appeared in property records yesterday. The seller was Thomas Cusumano, property records indicate, and the Myrtle Avenue buildings have been in the Cusumano family since 1973.
Shorenstein owns two six-family houses in Bushwick. One is at 20 Harrison Place and the other is at 121 Irving Avenue.