There were 237 transactions totaling $368 million recorded in New York City over the 24 hours before 4:00 p.m. on Thursday, Sept. 25.
🏆 Residential: A Lincoln Square sponsor unit marked the top residential sale recorded in New York City. Robert Lourie, an executive at the hedge fund Renaissance Technologies, nabbed the unit at SJP Properties’ 200 Amsterdam Avenue for $19.6 million. The four-bedroom residence spans about 4,700 square feet, pricing the deal at roughly $4,200 per square foot. Serhant’s Peter Zaitzeff and Jamie Hannon had the listing. The unit has been on and off the market since at least 2019, when it was listed for $21 million.
🏆 Commercial: The top commercial deal recorded in the city was in Bushwick, where a one-story retail property at 321 Starr Street traded for $17.5 million. The buyer was an affiliate of Yale Properties USA. The seller was a company tied to Richard Leibovitch’s Arel Capital. The building spans 26,600 square feet. The deal pencils out to about $660 per square foot. The property last traded a decade ago for $9 million.
📊 Residential: In Soho, a duplex penthouse at the landmarked building 87 Mercer Street changed hands for $17.4 million. Jon and Ashley Venetos, founders of investment management firm Lurin, were the sellers of the unit, which has a two-level rooftop terrace. The four-bedroom pad has an outdoor wood-burning fireplace, outdoor kitchen, library and solarium. The transaction also included private storage space and a private gym in the lower level of the building. The unit has been on and off the market since 2017, when its asking price was just under $25 million. Its most recent asking price was just under $20 million. The buyer was an LLC.
📊 Residential: Kammy Moalemzadeh, founder and managing partner of Arcadia Investment Partners, purchased a three-bedroom condo at 25 Bond Street in Noho for $10.4 million. The seller was an LLC that had paid $8.7 million for the unit in 2013. The transaction appears to have been off-market.
📊 Commercial: An LLC tied to Beverly Hills-based hotelier Efrem Harkahm paid $8.9 million for a 62-unit, 75,000-square-foot apartment complex at 263 Eastern Parkway in Crown Heights. The transaction comes out to almost $120 per square foot. The seller of the six-story building was Michelin Partners LLC, which has owned the complex since at least the 1970s.
📊 Commercial: In the Bronx, a retail property at 3500 White Plains Road traded for $8 million. The seller was Cinquemani Partners LLC, which had owned the 10,000-square-foot building for decades. The buyer was a company managed by developer Aziz Tareb.
By the Numbers: Which U.S. county has the most pressured housing market?
Amid a nationwide affordability crisis, Honolulu County in Hawaii stands out as the most cost-pressured housing market in the U.S.
Attom pulled third-quarter housing and income data for counties with at least 100,000 residents and at least 50 home sales. Among those 580 counties, The Real Deal analyzed the ones that are not only unaffordable but are also experiencing rapid housing price growth, along with a high volume of sales.
The typical homeowner in Honolulu County in the third quarter needed to spend 61.3 percent of their annual wages on the homeownership costs, which include property taxes, home insurance, mortgage payments and mortgage insurance. This placed the county among the top 8 percent.
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