Silverstein Properties, Tal Kerret, Marty Burger, And David Marks Acquire 116 John Street Multifamily In FiDi From Metro Loft For $247.5M

116 John Street, located in the FiDi market, was recently sold in a multifamily property transaction. The property spans 265,831 square feet and consists of 416 units. The sale price for this transaction was $247,500,000, resulting in a price per unit of $594,951 and a price per square foot of $931.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $247,500,000
• Address: 116 John Street
• Market: FiDi
• Units: 416
• Price per Unit: $594,951
• Square Footage: 265,831
• Price per Square Foot: $931

The buyers of 116 John Street were Larry Silverstein, Tal Kerret, Marty Berger, and David Marks from Silverstein Properties. They were represented in the deal by Lenny Sporn from Sporn Group LLC. On the other side, the seller was Metro Loft, represented by Nathan Berman. Khashy Eyn from Platinum Properties NYC served as the seller's representative.