Overall, there were 245 deals, totaling about $400 million, recorded in New York City on Tuesday, Aug. 12.
🏆 Residential: Tribeca notched the top residential deal recorded in New York City. Ponte Equities sold off a condo unit at 70 Vestry Street for $18.7 million. Ponte dropped $36.7 million on 15 units at the Related-developed property in 2019 in a deal that priced each unit at roughly $2.45 million. The buyer was an LLC. The three-bedroom pad spans about 2,600 square feet. The latest deal pencils out to about $7,200 per square foot.
🏆 Commercial: The top commercial real estate transaction to hit record books in New York was in the West Village, where a five-story, 20-unit walkup at 194 West 10th Street traded for $16.6 million — about five months after it had already sold for $12.3 million. The buyer in the latest deal was Shinko Co., which purchased the property from an LLC named after the address. There are no units up for rent in the building, according to StreetEasy, but a studio was rented in July with an asking price of $2,600 per month. A two-bedroom apartment had an asking price of $9,400, as of March.
📊 Commercial: For $16 million, Honda of the Bronx offloaded its service location at 1133 Zerega Avenue. The buyer was Josha Aaronson’s Island Auto Group. Ally Bank provided a $9.1 million mortgage for the deal.
📊 Commercial: Fashion designer Alexander Wang, his sister and mother dropped $9.5 million on a retail property at 58 Bowery in Chinatown via two trusts. The seller was HSBC Bank/Citizens Savings Bank. The property is known as the Bowery Bank Building, which was landmarked in 2011. The building was built in 1924 and was the longtime site of a Citizens Savings Bank; HSBC was the corporate successor to Citizens Savings.
📊 Residential: Slate Property Group sold two sponsor units at The Katharine at 118 West 13th Street in Greenwich Village to anonymous LLCs for a combined $23.5 million. The Parlour 13 LLC paid $13.3 million for a condo and storage unit at the building, and Stokenchurch LLC dropped $10.3 million for another condo and storage unit. Both residences sold for their asking prices. Compass’ Leonard Steinberg team is leading sales at the development.
📊 Residential: On the Upper East Side, Cassel and Brooke Lessinger paid $7.2 million for a co-op at 70 East 77th Street. The sellers were Jason and Tricia Cohen. Cassek Lessinger is a managing director at Blackstone, and Brooke Lessinger is a producer at The Drew Barrymore Show. The four-bedroom duplex spans 4,100 square feet and went on the market in September for $9 million. The Modlin Group’s Adam Modlin and Andrew Nierenberg represented the Cohens.
By the Numbers: This Massachusetts city has the nation’s hottest real estate market
The ZIP code where buyers are snapping up homes the fastest is a 43,000-person city outside of Boston.
Buyers are picking up properties in a median of 16 days in Beverly, Massachusetts, where the median listing price from January to June of this year is $746,000, according to a new report from Realtor.com that ranked the hottest zip codes around the country.
Overall, markets in the Northeast and Midwest dominated the top spots on Realtor.com’s list. Wayne, New Jersey, was the only town from the New York City metro area to break into the top 50 fastest-selling ZIP codes in the U.S.
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