NEW YORK CITY-Silverstone Property Group reports it has sold a two-building, six-story multifamily building in the West Village for $19.2 million.

The New York City-based firm's co-founders Josh Zegen, Brian Shatz and Martin Nussbaum reported the sale of the 26-unit 143-145 West 4th St. on Thursday. The identity of the buyer was not released. The property is located between 6th Avenue and Washington Square West, a half a block from Washington Square Park and in the heart of the New York University campus.

Silverstone purchased the property in August 2012 for $11.325 million and spent the last year renovating and reconfiguring the residential units to maximize layout efficiencies, as well as upgrading and modernizing the property, company officials state.

The property was marketed and sold by Peter Von Der Ahe and Joe Koicim of Marcus & Millichap.

"Silverstone is pleased to have successfully executed its value-add business plan with the purchase and sale of this property in just over one year," states Zegen.

"We were able to reposition and resell the property way ahead of our initial schedule and the results speak for themselves in the value we created and then realized through the disposition,” adds Nussbaum.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.