There were 164 deals totaling about $626 million recorded across New York City on Tuesday, Aug. 19, 2025.
🏆 Residential: Tribeca notched the top residential sale recorded in New York today. A condo at 61 North Moore Street traded for $5.7 million, a touch above ask. The seller was Akarin Gaw, a financier who purchased the unit in 2001 for about $1.7 million, according to StreetEasy. The buyers were Michael and Lisa Norman. The nearly 2,700-square-foot pad is a duplex with four bedrooms and three bathrooms, and the deal works out to roughly $2,100 per square foot. Gaw put the condo on the market in May for $5.68 million with Compass’ Esteban Gomez, Tay Kim and Amy Kim.
🏆 Commercial: The top commercial deal recorded in New York was from Vornado Realty Trust and the Albanese Organization. The companies sold a West Chelsea office building at 512 West 22nd Street to Raghsa Real Estate, which is a subsidiary of Argentinian developer Moisés Khafif’s Raghsa SA. The price was $205 million, and the deal went into contract in May.
📊 Residential: In Chelsea, Michael Silverton sold a condo at 508 West 24th Street for about $5.6 million. Silverton paid $5.7 million for the pad in 2014. The buyer was an LLC. Silverton put the 2,300-square-foot, three-bedroom condo on the market initially in 2022 for just under $6 million. Corcoran’s Catherine Juracich, Tom Ventura, Alexis Godley and Karena Cameron represented the seller.
📊 Residential: Jie Pan and Qiong Zhou snapped up a two-bedroom condo at Extell Development Company’s 50 West 66th Street in Lincoln Square for just over $5 million. The seller was an LLC that had purchased the unit in March for $4.7 million. The Billionaires’ Row residence spans about 1,700 square feet. The deal pencils out to about $2,900 per square foot. Douglas Elliman’s Janice Chang and Timothy Hsu had the listing.
📊 Residential: Massimo Marolo, a senior research analyst at Sands Capital, sold a duplex at 201 Sixth Avenue in Park Slope for just under $5 million. The buyers were David Fugel, founder of a tailoring company, and Raven Pierson, a psychotherapist. Marolo had owned the property since 2011, when he purchased it for $2.1 million. The brownstone has a three-bedroom upper triplex and a two-bedroom garden rental. Serhant’s Ravi Kantha, Cameron LeCates and Eric Shostak represented Marolo. The townhouse went on the market in March for $5.8 million.
📊 Commercial: In Manhattanville, Yuco Management purchased a six-story walk-up at 567 West 125th Street for $7.3 million, about 37 percent off its last trade price. The building spans about 22,000 square feet and has 22 apartments. The seller was Village Dwellings, which purchased the building for $11.6 million in 2015.
By the Numbers: U.S. housing permits continue to fall — along with builders’ confidence
Developers continue to pull back on new housing as their confidence in the market wanes.
Building departments across the country greenlit 1.35 million permits for new, private housing in July, which was 2.8 percent lower than in June and 5.7 percent fewer than a year ago, according to data released by the U.S. Census Bureau.
The drops in permit activity come as confidence among builders of single-family homes has also slid. Builder confidence ticked down one point in August from July, according to an index compiled by the National Association of Home Builders and Wells Fargo. The index was seven points lower compared to August of last year.
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