Slate Property Group, Adam America Real Estate and Vanke Holdings USA LLC has announced the closing of 45 Rivington Street in New York’s Lower East Side for $116 million. The existing six-story, 145,000-square-foot building, will be converted into a luxury residential development. Built in 1898 the building was known as P.S. 20 until 1993 when the property was purchased from the city of New York by a nonprofit and underwent a complete renovation. “We recognize the value opportunity of the historic property, 45 Rivington, and we look forward to working alongside our partners to deliver an exciting condominium offering in a prime location with unique access to the iconic Sara D. Roosevelt Park,” said Martin Nussbaum, Principal of Slate Property Group. “To further add to the building’s attraction for future residents, the property’s gateway to ample green space is also complemented by the site’s close proximity to neighborhoods including SoHo, the East Village and The Bowery.”
