Pistilli Realty Group Acquires MultiFamily Property From Estate Of Harry Silverstein For $29.8M

The property involved in the transaction is a Multifamily asset located at 1555 Grand Concourse, Bronx, NY. The property spans 139,000 square feet and was sold for $29,800,000. The sale took place on September 29, 2017, in the Bronx market. The buyer, Pistilli Realty Group, acquired the property from the Estate of Harry Silverstein. The buyer's representatives were Mark Steinmetz from Meridian Capital Group and Richard (Rich) Velotta from Raven Property Advisors, who also acted as the broker in the deal.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,800,000.00
• Address: 1555 Grand Concourse, Bronx, NY
• Market: Bronx
• Buyer: Pistilli Realty Group
• Seller: Estate of Harry Silverstein
• Buyer's Rep: Mark Steinmetz(Meridian Capital Group), Richard (Rich) Velotta(Raven Property Advisors)
• Brokers: Richard (Rich) Velotta(Raven Property Advisors)
• SF: 139,000

Key individuals involved in the transaction included Mark Steinmetz from Meridian Capital Group and Richard (Rich) Velotta from Raven Property Advisors, who served as both the buyer's representatives and the broker in the deal. The Estate of Harry Silverstein was the seller of the property, while Pistilli Realty Group emerged as the buyer in this significant real estate transaction that took place in the Bronx market.