There were 148 transactions, totaling $301 million, recorded in New York City on Tuesday, Aug. 26, 2025.
🏆 Residential: The top home sale recorded in New York was in Cobble Hill. Stephen and Alivia Flynn, who works at LPL financial, snagged a townhouse at 43 Dean Street for $5.4 million — above the property’s asking price of just under $5 million. The sellers were Laura Sullivan and Shawn O’Hargan, a lawyer, who purchased the home in 2017 for $3.7 million. The 28-foot-wide residence has five bedrooms, four and a half baths and multiple outdoor spaces. Compass’ Noah Plener, Tamara Abir and Sarah Slavin had the most recent listing.
🏆 Commercial: The city’s top recorded commercial deal was in Chinatown. An affiliate of DLJ Real Estate Capital Partners offloaded a 14-story, 71,000-square-foot hotel at 9 Orchard Street — also known as 60 Canal Street — for $92 million. The buyer was MML Hospitality. The early 20th-century property was once the S. Jarmulowsky Bank and is now the Nine Orchard Hotel, with 113 rooms. The landmarked building last traded in 2012 for $5.3 million.
📊 Commercial: In Flushing, Standish Development Corp. offloaded two commercial portions of a 108-unit co-op building at 134-54 Maple Avenue for $20 million. The buyers were two companies tied to Zifeng Chen. A Hilco Trading affiliate provided a $20 million loan for the deal.
📊 Commercial: Amy Lynn David’s Hamb Realty LLC parted with a four-story, mixed-use property at 247 West Broadway in Tribeca. The buyer, a Verona, New Jersey-based company linked to James G. Nicholas II, paid $7.3 million for the 10,800-square-foot building. The deal works out to roughly 680 per square foot. Nicholas also owns 241 West Broadway, which is two doors down. The seller in the latest transaction had owned the property for decades.
📊 Commercial: A commercial condo at the Steiner Building at 257 West 17th Street in Chelsea traded for $5.9 million. The seller was World Wide Holdings Corp, and the buyer was 257 W17 EP LLC. The condo building stands 10 stories tall and has 31 residential units.
📊 Residential: A Boerum Hill penthouse traded for just over $5 million. The three-bedroom unit at the newly built Bergen Brooklyn at 323 Bergen Street, developed by Avdoo & Partners Development, spans about 2,300 square feet with about 1,300 square feet of terrace space. It went on the market in September for $4.9 million. The buyer was Sampann LLC. Avdoo & Partners Development Marketing is leading sales at the development.
By the Numbers: Vacant offices pile up — but rents keep climbing
Almost a fifth of the country’s office space was empty in July, as rents rose year over year.
The national vacancy rate for the office market was 19.4 percent last month, up 130 basis points compared to the year before. Meanwhile, asking rents climbed 3.3 percent during that time to $32.72, according to a report from CommercialCafe.com.
In Manhattan, the vacancy rate fell by 130 basis points to about 15 percent, and rents also fell — by 4.7 percent — to an average of $68 per square foot.
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