Overall, there were 241 deals, totaling about $385 million, recorded in New York City on Monday, Aug. 11.
🏆Residential: The top residential sale recorded in New York City was for a condominium at the Aman at 730 Fifth Avenue along Billionaires’ Row. The 16th-floor unit traded between two LLCs for $28 million, about $6,300 per square foot, in an off-market deal — $4 million more than its last purchase price in 2023. The condo has three bedrooms and three bathrooms.
🏆Commercial: The priciest commercial transaction recorded in the Big Apple was for the retail condos at 85 Jay Street in Dumbo. CIM Group and LIVWRK sold the units to an affiliate of Great Neck, New York-based Namdar Realty Group for $54.5 million. The 1.1 million-square-foot luxury building also has 408 condominium units and rental apartments.
📊Residential: A sponsor unit at Extell Development Company’s 50 West 66th Street in Lincoln Square sold for $11.7 million. The buyer was an entity managed by Matthew Weinstein. The five-bedroom condo spans about 3,900 square feet, pricing the deal at about $3,000 per square foot.
📊Residential: Avista Capital Partners chairman Thompson Dean shed two condo units and a parking space at 525 Park Avenue in Lenox Hill to Zachary Pack for $9.9 million — 40 percent off the Dean’s 2013 purchase price of $16.5 million. The four-bedroom, 4,000-square-foot residence has been on and off the market since 2016, when the initial asking price was $32 million. The last asking price was $10.8 million. Sotheby’s International Realty’s Linda Maloney had the listing.
📊Residential: River Wind Holdings LLC dropped $7.6 million — more than $2,100 per square foot — on a three-bedroom sponsor unit at 53 West 53rd Street. Douglas Elliman’s Shari Scharfer Rollins, Renee Micheli, Jade Chan, Frances Katzen and Fredrik Eklund had the listing. The unit’s last asking price was just under $8.9 million, but the unit had been on and off the market since 2017. Pontiac Land Group and Hines developed the luxury property, which is steps from the Museum of Modern Art.
📊Commercial: In the East Village, a six-story walk up sold for $9.4 million. The seller was an affiliate of New York-based Serota Ventures, which acquired the property in 2023 for $6.9 million. The buyer in the latest deal was an LLC named after the address. The property has 20 apartments and measures about 11,000 square feet. The deal works out to about $900 per square foot.
By the Numbers: Midwest sees highest Opportunity Zone home price increases
Home prices are on the rise so far this year in most Opportunity Zones around the country, with prices in the Midwest leading the way.
The median single-family home and condo prices climbed in the second quarter from the previous quarter in more than 57 percent of the 3,162 Opportunity Zone census tracts analyzed by real estate data provider Attom.
The states with the highest share of zones that saw prices rise year over year were in the Midwest. For instance, the median home price rose in 68 percent of Wisconsin’s zones, the highest share in the country. Indiana (65 percent), Iowa (65 percent), Michigan (64 percent) and Missouri (59 percent) followed.
Coastal zones saw the highest median prices in the second quarter. Downtown Brooklyn in Kings County led the pack, where the median home price was $3.2 million, where the median household income for that census tract is about $168,000.
