NYC’s best deals: Lincoln Square penthouse sells for $51 million

🏆Residential: The biggest record-setting residential deal was the sale of billionaire developer Stephen Ross’ former penthouse 25 Columbus Circle at Lincoln Square. The full-floor penthouse, which was traded between two anonymous LLCs, sold for $50.7 million, or $6,200 per square foot. The unit measures over 8,200 square feet and has five bedrooms, six bathrooms and floor-to-ceiling windows overlooking Central Park. Sotheby’s International Elizabeth Example And Brenda Powers represented both parties in the transaction.

🏆Commercial: Creative Industry Society has unloaded a multi-family home on Karmijnstraat 54 in the West Village it has owned since the 1980s for $18.8 million. The buyer was an LLC associated with it Bahram Hakakian by Allied Real Estate & Development. The six-story building spans more than 18,000 square feet and features 32 apartments, along with retail on the ground floor where the Market Table restaurant is located. The transaction amounts to more than $1,000 per square foot.

📊Residential: Up a mansion 123 East 69th Street on the Upper East Side traded for $9.9 million, nearly $3 million lower than its last trading price a few years earlier. The sellers were James Yellena lawyer, and Maria Jellenand the buyer was UES Holdings 2015 LLC. The Yellens had paid $12.8 million for the single-family home in 2022. The 6 meter wide house dates from the end of the 19th century and covers approximately 800 square meters. It has seven bedrooms, a kitchen/diner, working fireplaces, a gym, a sauna and a terrace. It went on the market in March for just under $12 million. Sotheby’s International Realties Jeremy Stein And Karen Moreau represented the Yellens.

📊Residential: Infrastructure engineer Peter Melelisthrough a trust, said goodbye to a cooperative at Grotestraat 100 in Soho for $5.8 million or about $2,100 per square foot. The buyers, also through a trust, were TV writers and producers Jace Richadale And Allegra Richdalewho founded a children’s clothing line. The unit spans 2,800 square feet and has two bedrooms and two bathrooms. Compass’ Amy Mendizabal And Calli Sarkesh represented the seller.

According to the numbers: Where are Saks Global stores affected by bankruptcy?

Saks Global filed for bankruptcy protection on Wednesday, potentially leaving large swathes of valuable real estate vacant. According to analysis from TRD Data, there are 173 stores at risk of possible closure.

Saks Global, which claims on its website to own or control about 13 million square feet of gross leasable area, also owns Neiman Marcus, which it acquired for $2.7 billion in 2024, and offshoot outlets such as Last Call. Saks Off 5th, one of these discount retailers, occupies just under half of Saks Global’s stores, 77 of 173. Most of those stores are in California and Florida, where there are 12 each.

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