There were 218 transactions, totaling $302 million, recorded in New York City on Friday, Aug. 29.
🏆 Residential: A resale at a Billionaires’ Row tower marked the priciest home sale recorded in the Big Apple ahead of Labor Day Weekend. An LLC managed by Biana Dudler parted with a condo on the 52nd floor of 432 Park Avenue for $14.7 million. The buyer was another LLC. The unit sold at a loss, as the seller purchased it in 2016 for $16.4 million. The condo spans about 3,600 square feet, pricing the deal at just under $4,100 per square foot. The three-bedroom pad had been on and off the market since at least 2017, when its asking price was $19.8 million, but it went into contract at $16.8 million, according to StreetEasy. Corcoran’s Carrie Chiang and Andres Perea-Garzon represented the seller, and Douglas Elliman’s Abraham Sarway brought the buyer.
🏆 Commercial: The city’s top recorded commercial deal was in Woodhaven. Realex Development sold two, adjacent one-story industrial buildings at 89-02 Atlantic Avenue and 94-33 89th Street for $10.7 million. The buyer was an affiliate of Rosemont, Illinois-based Venture One Real Estate.
📊 Commercial: In East Williamsburg, a mixed-use building at 449 Keap Street traded for $6.3 million. The seller of the three-story, 7,600-square-foot property was Cheskie Weisz’s CW Realty, which purchased the building in 2016 for $4.7 million. The buyer was an LLC tied to Morris Sabbagh of commercial real estate brokerage Kassin Sabbagh Realty.
đź“Š Commercial: The Police Athletic League picked up the home of its Head Start/Early Head Start programs, which provide early childhood education, at 452 Pennsylvania Avenue in East New York for $6 million. The seller was a company managed by Lawrence Bernstein. The story stands two stories tall and spans 18,000 square feet. It had been in the Bernstein family since at least the 1970s.
📊 Residential: The estate of Thomas McCormack sold a four-bedroom co-op at 50 Central Park West in Lincoln Square for $5.9 million. McCormack, who died in 2024, was once CEO of St. Martin’s Press. The buyer was a trust tied to James and Dr. Gretchen Conroy. James Conroy is CEO of Ross Stores, and Gretchen Conroy is a radiologist. The unit hit the market in November for just under $8 million. Compass’ Brian Lewis had the listing.
📊 Residential: Dom Tran and Tia Nguyen shed a 1,500-square-foot condo at The Greenwich Lane at 155 West 11th Street in Greenwich Village for $6.4 million. The buyer was a trust tied to Steven Hazan. Tran and Nguyen bought the two-bedroom pad in 2021 for $6.6 million then put it on the market in May for $6.8 million. Douglas Elliman’s Anthony Robles, Aran Scott and Bryan Pak had the listing.
By the Numbers: Bidding for international CRE heats up
It’s getting ever-so-slightly more competitive to bid for commercial real estate assets — particularly multifamily and office properties — abroad.
JLL’s Global Bid Intensity Index, which analyzes the commercial real estate firm’s bid data, rose in July compared to the month before. It’s the index’s first month-over-month growth since December.
However, the index is still down from July 2024, when the real estate industry had expected the Federal Reserve to cut its benchmark federal funds rate. The index softened at the start of 2025 because of volatile bond markets and continued trade policy uncertainty.
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