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Real Estate Rumor Mill: Silverstein, Oxford, GIC

By Andrew McIntyre (January 29, 2015, 6:23 PM EST) -- Silverstein Properties Inc. has paid more than $100 million to buy the site of a former Mercedes-Benz dealership in New York, Crain's New York Business reported, citing sources with knowledge of the matter. The company has purchased 514 11th Ave., and is currently attempting to get the property zoned for residential development, Crain's said. While Silverstein has floated proposals for a pair of residential towers at the site, the company is now shifting its focus to one tower that could have as many as 900 rental units, Crain's said, citing a source....

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