There were 211 transactions recorded in New York City in the previous 24 hours before 4:00 PM on Thursday, October 23 in New York City, totaling $493 million.
🏆 Residential: The highest home sale in the Big Apple was $9.8 million. David Dowlera principal at Texas-based Luther King Capital Management, and Martha Dowler purchased a sponsorship unit at The Surrey 20 East 76th Street on the Upper East Side, developed by the Reuben brothers. The two-bedroom pad covers approximately 2,100 square feet. Douglas Elliman Lauren has to And Michelle Griffith had the mention.
🏆 Commercial: Flatbush had the most expensive commercial transaction in the city. Hello life by Eli Karp has offloaded a struggling development site Nostrandlaan 1580. Madison Real Estate Capitalthe property’s lender, took it over with a $70 million credit offer. The site would be a two-building development called Hello Nostrand. The developer completed one of the buildings, a 93-unit rental complex 21 East 29th Street. Karp declared the property bankrupt in 2021.
📊 Commercial: On the Upper East Side, a portfolio of five two- to four-story mixed-use properties – mostly residential and retail – traded for $62.6 million. The buildings are located at: 150, 152 and 154 East 79th Street And 1131 and 1125 Lexington Avenue. The buyer was Closer properties, the real estate branch of Zhang Xin’s family office, which plans to build a luxury condominium building on the site. The seller was the former lender of the property, W Financial REITwho took over the buildings in 2023 from Soul Feldman’s HFZ Capital Group after filing a bankruptcy petition.
📊 Commercial: Pontegadea by Amancio Ortegahis family office, has said goodbye to an office building in 366 Madison Avenue in Midtown for $50 million. That’s half of what the Spanish billionaire paid for the 8,000-square-foot building about 20 years ago. The buyer was The Sioni group. The recent transaction works out to approximately $588 per square foot.
📊 Commercial: In Midtown, two adjacent retail buildings 136-138 West 34th Street changed hands for $19.1 million. The seller was Jenel Management Corp.which has owned the buildings since at least the early 1990s. The buyer was Vornado Real Estate Trust.
📊 Residence: Patricia Foody And Nicholas Reber paid $5.8 million for a penthouse in 245 West 14th Street in Chelsea, almost 40 percent off the last trading price. The seller, an LLC connected to investor and entrepreneur Edwin Sheridan bought the apartment in 2016 for $9.5 million. The device has been on the market since 2017, but the most recent asking price was $6.5 million. Sotheby’s International Realties Ryan Gribbon And Juliette Janssens had the mention.
According to the numbers: Sun Belt cities are leading the way in rental housing construction
Southern markets, especially the largest Sun Belt cities, are leading the way in rental housing construction.
Phoenix came in at No. 1, with more than 10,000 BTR homes in production since September, according to a report from RealPage Market Analysis. Dallas followed in second place, with approximately 5,800 units under construction. All of the top 10 markets for owner-occupied homes in September were in southern states, where multifamily rental prices have fallen recently due to a supply glut.
If you like this recap, you can get it even earlier – every night – by subscribing to TRD Data, here.
#NYCs #Deals #Vornado #Cuts #Million #Midtown #Retail