🏆 Residential: The best home sales to hit records were in Lenox Hill. EJS development sold up a sponsorship unit 200 East 75th Street for $19.8 million. The buyer was an LLC associated with it Madison Realty Capital’s Joshua Zegen. The full-floor apartment spans more than 6,100 square feet, with five bedrooms, six bathrooms, two powder rooms, a media room and a library. Compass handles the sale of the property.
🏆 Commercial: The most significant commercial deal on record took place on Staten Island, which involved an entity The Arker companies has acquired the eight-building Park Hill apartment complex 140-180, 185-225 and 240-280 Park Hill Avenue for $364.7 million, according to city records and Crain’s New York Company. The seller was DelShah capitalwho had owned the property for decades. Arker and its partners, L+M development partners And LIHC Investment Groupplan to undertake a $165 million renovation of the complex, which has been the subject of numerous resident complaints, in the coming years, according to SILive.com.
📊 Commercial: There’s a 7,000-square-foot industrial building in Long Island City 35-43 37th Street sold for $15.4 million. The sellers were companies they were associated with Jeffrey Sitomer And Jeff Gruebeland the buyer was a subsidiary of Elie Pariente’s EMP Capital Groupwhich submitted an application to demolish the structure in January.
📊 Residential: Gary Barnett’s Extell development company sold up a sponsorship unit West66estraat 50 on the Upper West Side to William S Benjamina partner and vice chairman at Ares, for $8.9 million. The unit spans approximately 2,900 square feet and costs approximately $3,100 per square foot. The pad has three bedrooms and three and a half baths.
📊 Residential: The estate of Mimi Falconea journalist and food critic who wrote 16 books sold a house in the city 248 West 12th Street in the West Village for $8 million. Mimi Falcone and her husband had lived in the duplex since the 1960s. The buyer was an LLC associated with it Carlos Saavedrafrom Brooklyn-based development firm Eckstrom. The property first hit the market in June 2024, with an asking price of $10.5 million. Brian Meier, Amanda Barba, Corey Mittenthal, Bruce Goveia, Apple Christie-Wallace And Christopher Valcin with Berkshire Hathaway HomeServices had the listing.
According to the numbers: The $77 billion “hard maturity” wall hits CMBS
Commercial mortgage-backed securities lenders are running out of runway.
After a number of years of extensions, 2026 will be the year in which many loans will receive a hard stop. Borrowers worth about $76.6 billion in debt are facing hard deadlines, meaning borrowers are running out of contractual options to push forward their due dates, according to a new report from research firm. Stairs. The company notes that hard terms can also include loans that never had renewal options, but Trepp focused on loans whose borrowers have already used up all renewals. These are loans that are truly distressed.
That wall is higher than in recent years.
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