🏆 Residential: The highest home sale recorded in New York was for a sponsor unit in the By Ruben Broeder The Surrey homes in 20 East 76th Street on the Upper East Side. An LLC linked to the Greek businessman and founder of the Libra Group George Logothetis paid $28 million for a 5,400-square-foot lot with six bedrooms, five full bathrooms and two half bathrooms. The deal works out to about $5,300 per square foot. Logothetis recently sold the former Rockefeller mansion at 13 East 94th Street – which is on a mortgage related to its most recent purchase – for $15.5 million.
🏆 Commercial: The largest commercial real estate transaction occurred with SL Green Realty Corp., whose acquisition of the Park Avenue Tower in 65 East 55th Street in the Plaza District for $730 million hit records. The seller was Blackstone, which had purchased the building for $750 million in 2014. The class-A office building is 36 floors high and measures almost 622,000 square meters. SL Green financed the deal with a new $480 million CMBS loan.
📊 Residential: In the West Village, an apartment Karelstraat 150 changed hands for $16.3 million. The buyer was Moonshadow New York LLC. The seller, Charles 14B LLChad purchased the unit in 2016 for $14.5 million, or about $4,300 per square foot. The 3,400-square-foot pad has four bedrooms, four and a half bathrooms and direct elevator access. The device has been on the market since 2024, when the initial asking price was approximately $19.8 million. Douglas Elliman Rafael de Niro And James Flowers had the mention.
📊 Residential: An LLC affiliated with a Texas-based ophthalmologist, Dr. Maurice Syrquinshed a combination apartment in Trump Tower 721 Fifth Avenue in Midtown for $8.2 million. The LLC had acquired three units in 2021 for $6.2 million and then sold one of the units in 2023 for just under $2 million. The new owner of the combined pad is WTMNYC LLC. The unit spans 2,600 square feet and has three bedrooms and three and a half bathrooms. Rana Williams with Keller Williams represented the seller. The transaction works out to approximately $3,200 per square foot.
📊 Residential: Investor Mo Kofman and his wife, an interior designer Hilary Koyfman, a cooperative sold on Hicksstraat 200 in Brooklyn Heights for $7.5 million, or $2,500 per square foot. The buyer was Closer. The three-bedroom house measures 3,000 square feet. Corcorans Leslie Marshall And Nick Hovsepian had the mention.
According to the numbers: CMBS issuance will reach a nearly 20-year peak in 2025
Issuance of commercial mortgage-backed securities reached a nearly two-decade high last year.
Domestic private label originators issued $125.6 billion in CMBS loans across 173 deals, up 21 percent from the year before, according to data from Stairs. That dollar volume was the highest since 2007, when CMBS issuance was $230.5 billion.
CMBS deals, backed by office buildings, had the highest issued balance last year, at nearly $29 billion. That was up nearly 207 percent year over year, underscoring the shifting demand for office properties as the asset class continues to emerge from the pandemic-era crisis.
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