Silverstein Properties has made its first purchase of a residential property in New York, buying 116 John St. in Lower Manhattan for about $248 million, the company announced Wednesday.
The real estate firm, perhaps most famous for redeveloping the World Trade Center after the 9/11 attacks, has closed on buying the 416-apartment building from an affiliate of Metro Loft Management. The property originally was built as an office tower in 1931, and Metro Loft converted it to a residential building in 2013. It stands 35 stories tall and spans 266,000 square feet.
Silverstein developed the Four Seasons Downtown in 2016 at 30 Park Place, and it developed and
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