Tag: New York City real estate deals

There were 218 transactions, totaling $302 million, recorded in New York City on Friday, Aug. 29.

🏆 Residential: A resale at a Billionaires’ Row tower marked the priciest home sale recorded in the Big Apple ahead of Labor Day Weekend. An LLC managed by Biana Dudler parted with a condo on the 52nd floor of 432 Park Avenue for $14.7 million. The buyer was another LLC. The unit sold at a loss, as the seller purchased it in 2016 for $16.4 million. The condo spans about 3,600 square feet, pricing the deal at just under $4,100 per square foot. The three-bedroom pad had been on and off the market since at least 2017, when its asking price was $19.8 million, but it went into contract at $16.8 million, according to StreetEasy. Corcoran’s Carrie Chiang and Andres Perea-Garzon represented the seller, and Douglas Elliman’s Abraham Sarway brought the buyer.

🏆 Commercial: The city’s top recorded commercial deal was in Woodhaven. Realex Development sold two, adjacent one-story industrial buildings at 89-02 Atlantic Avenue and 94-33 89th Street for $10.7 million. The buyer was an affiliate of Rosemont, Illinois-based Venture One Real Estate.

📊 Commercial: In East Williamsburg, a mixed-use building at 449 Keap Street traded for $6.3 million. The seller of the three-story, 7,600-square-foot property was Cheskie Weisz’s CW Realty, which purchased the building in 2016 for $4.7 million. The buyer was an LLC tied to Morris Sabbagh of commercial real estate brokerage Kassin Sabbagh Realty.

📊 Commercial: The Police Athletic League picked up the home of its Head Start/Early Head Start programs, which provide early childhood education, at 452 Pennsylvania Avenue in East New York for $6 million. The seller was a company managed by Lawrence Bernstein. The story stands two stories tall and spans 18,000 square feet. It had been in the Bernstein family since at least the 1970s.

📊 Residential: The estate of Thomas McCormack sold a four-bedroom co-op at 50 Central Park West in Lincoln Square for $5.9 million. McCormack, who died in 2024, was once CEO of St. Martin’s Press. The buyer was a trust tied to James and Dr. Gretchen Conroy. James Conroy is CEO of Ross Stores, and Gretchen Conroy is a radiologist. The unit hit the market in November for just under $8 million. Compass’ Brian Lewis had the listing.

📊 Residential: Dom Tran and Tia Nguyen shed a 1,500-square-foot condo at The Greenwich Lane at 155 West 11th Street in Greenwich Village for $6.4 million. The buyer was a trust tied to Steven Hazan. Tran and Nguyen bought the two-bedroom pad in 2021 for $6.6 million then put it on the market in May for $6.8 million. Douglas Elliman’s Anthony Robles, Aran Scott and Bryan Pak had the listing.

By the Numbers: Bidding for international CRE heats up

It’s getting ever-so-slightly more competitive to bid for commercial real estate assets — particularly multifamily and office properties — abroad.

JLL’s Global Bid Intensity Index, which analyzes the commercial real estate firm’s bid data, rose in July compared to the month before. It’s the index’s first month-over-month growth since December.

However, the index is still down from July 2024, when the real estate industry had expected the Federal Reserve to cut its benchmark federal funds rate. The index softened at the start of 2025 because of volatile bond markets and continued trade policy uncertainty.

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There were 157 transactions, totaling $227 million, recorded in New York City on Thursday, Aug. 28, 2025.

🏆 Residential: The West Village nabbed the top recorded residential deal in the city. A townhouse at 85 Charles Street changed hands for $11.5 million. The sellers were Cathleen Foley Glover, a real estate agent, and Paul Glover, managing director of an investment banking firm. The buyers were Struan and Emilie Pires. Struan Pires is managing director of an executive search firm and Emilie Pires is a communications specialist. The residence stands five stories tall and has about 4,900 square feet of interior space, five bedrooms and four full bathrooms and two powder rooms. The 20-foot-wide home dates to 1868 and was the site of the former Peter Warren and Abraham Van Nest Estates. The Glovers paid $4.1 million for the property more than two decades ago; it has been on and off the market at least since 2013, according to StreetEasy. The home’s most recent asking price was just under $13 million. Compass’ Rachel Glazer had the listing.

🏆 Commercial: The city’s top recorded commercial deal was in Times Square. Xin Capital paid $31 million for the retail and office portions of 303 West 42nd Street. The sellers were several LLCs tied to Blake Partners, which paid $17.8 million for the condos in November. White Oak Real Estate Capital provided a $51 million senior secured loan for the purchase. The property has 17,500 square feet of ground-floor retail and 127,000 square feet of office space.

📊 Residential: In the Upper West Side, Wade Davis, vice chairman of the board at TelevisaUnivision, and Dr. Jennifer Mascarenhas, an anesthesiologist, offloaded a 5,800-square-foot townhouse at 163 West 87th Street for $9.2 million. The sellers purchased the property, which has six bedrooms, an elevator, three terraces and a roof deck, in 2006 for $3.4 million. The home went on the market in May with Brown Harris Stevens’ David Kornmeier for $9 million. Atanas Atanasov and Min-Hua Chen were the buyers.

📊 Residential: A condo at 150 West 12th Street in Greenwich Village traded for $7.3 million. The buyers were a trust tied to financier Michael Beckwith and his wife Kirsten Beckwith, and the seller was a company managed by Craig M. Bernfield, once the CEO of Aviv REIT, which merged with Omega Healthcare Investors a decade ago. The Bernfield-linked LLC paid $6.5 million for the unit in 2017.

📊 Commercial: In Gowanus, Domal Transportation Services shed a one-story warehouse at 264 Butler Street for $15.3 million. The buyer of the roughly 17,400-square-foot building was Yitzchok Katz of Goose Property Management. The deal works out to about $880 per square foot. Domal had owned the property since 1980. The property is adjacent to another site, a plot of vacant land, along Third Avenue that Katz bought in November for $22 million.

📊 Commercial: A seven-story office building at 249 West 34th Street in Midtown sold for $6.6 million. The seller, who appears to have owned the building for at least 30 years, was Penn Metro Associates LLC. The buyer was a Flushing-based LLC. The building measures nearly 14,700 square feet. The deal pencils out to about $450 per square foot.

By the Numbers: Boom in refinanced resi loans drives mortgage origination bump

Residential loan originations — by count and dollar amount — rose year over year in the second quarter, largely driven by a surge in homeowners opting to refinance their mortgages rather than getting loans for new home purchases.

There were 1.8 million loan originations across the country in the second quarter, up 6 percent compared to the same period last year, according to a report from real estate data provider Attom. The dollar amount totaled about $602 billion, a 10 percent year-over-year increase.

Refinancing deals climbed 24 percent during this time, while purchase loan originations fell by 5 percent. 

Home equity lines of credit also grew, by 5 percent year over year.

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There were 164 deals totaling about $626 million recorded across New York City on Friday, Aug. 22, 2025.

🏆 Residential: The top home sale recorded in New York was in Tribeca. A trust tied to Baruch Travitsky, CFO at Cambridge Resources, dropped $13.3 million — its asking price — on a condominium at 443 Greenwich Street. The seller was an LLC that paid just over $8 million for the pad in 2018. The three-bedroom unit spans just over 3,000 square feet and went up for sale in May with Douglas Elliman’s Claudia Saez-Fromm and Mark Fromm. The deal pencils out to more than $4,400 per square foot.

🏆 Commercial: An East Williamsburg industrial property marked the top commercial deal recorded in the city. The two-story building, at 165 Woodpoint Road, traded for $4.6 million. The seller was a company connected to John Ricci of Morganville, New Jersey, and the buyer was an LLC tied to Marzena Wawrzaszek, a real estate agent at Serhant. The property spans more than 6,800 square feet and had been in the Ricci family for decades. The latest deal works out to over $670 per square foot.

📊 Residential: Real estate investor and developer Trace McCreary parted with a co-op at 1220 Park Avenue in Carnegie Hill. The buyers, Frank and Allison Stadelmaier, paid $8.5 million for the unit. Frank Stadelmaier is the chief operating officer of the credit businesses at TPG Angelo Gordon. McCreary had owned the residence, which has five bedrooms and four bathrooms across 4,000 square feet, for 20 years, buying it for $7.4 million. Brown Harris Stevens’ Amanda Brainerd and Gerard Ryan had the listing, which went live in March. The co-op also was on the market in 2012 but was taken off in 2013, according to StreetEasy.

📊 Commercial: In Prospect Heights, a two-family home with a 70-foot garden changed hands for $3.8 million. Abraham and Davella May sold 272 Prospect Place to Marie Crossan and Christopher McEntee. The Mays purchased the townhouse in the late 1970s. It went on the market in May for just under $3.7 million. Erica Sullivan with LREB represented the sellers.

By the Numbers: Manhattan leads NYC in empty homes

Manhattan has the greatest share of empty homes among New York City’s boroughs.

Nearly 1,400 out of Manhattan’s 122,000 homes — 1.2 percent — are vacant in the Big Apple’s third most populous county, a figure relatively unchanged from the same time last year, according to a third-quarter analysis of Attom data by The Real Deal.

That’s in line with the national vacancy rate of roughly 1.3 percent, which covers some 1.4 million homes and also has remained fairly constant for more than three years, according to Attom. 

The Bronx had the second-highest vacancy rate among the boroughs. About 840 out of nearly 76,500 are empty, or 1.1 percent.

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