There were 155 deals, totaling about $431 million, recorded in New York City on Tuesday, July 22.
🏆Residential: The top residential sale recorded in New York City was for a sponsor unit at Elad Group’s 201 East 74th Street in the Upper East Side. Manish Nigam and Pooja Pradhan dropped $5.4 million on the pad, which spans 2,200 square feet and has three bedrooms and three and a half bathrooms. The deal works out to about $2,500 per square foot.
🏆Commercial: The priciest commercial transaction recorded was in the Financial District. Hawkins Way Capital, which has offices in Los Angeles and New York, paid $154.5 million for a hotel at 99 Washington Street and a neighboring five-story retail building at 103 Washington Street. The seller was Philadelphia-based GF Hotels & Resorts. The hotel, once a Holiday Inn, was until recently being used as a migrant shelter.
📊Commercial: The Roman Catholic Archdiocese parted with a 20-story Catholic center known as the Cardinal Terrence Cooke Center at 1011 First Avenue in Sutton Place for $103 million. The buyer was an affiliate of the Vanbarton Group, which secured a $250 million loan from Eldridge Group for the deal. Vanbarton intends to turn the property into a 26-story, 420-unit development.
📊Commercial: A company tied to Whitford Management shed a three-story multifamily building at 484 Humboldt Street in East Williamsburg for $8.3 million. The buyer was a company linked to Federico Wilensky of Urbana Partners. The building last traded for $8.4 million in 2022.
📊Residential: Bruce Crawford offloaded a co-op at 100 Barrow Street in the West Village for $5.3 million. The buyer was Lisa L. Hudson. Crawford purchased the unit in 2018 for $4.2 million. The two-bedroom residence spans about 1,800 square feet and hit the market in April for just under $6 million. Corcoran’s Jennifer Xavier and Dana Power had the listing.
📊Residential: In Fort Greene, a single-family home at 169 Adelphi Street traded hands for $4.7 million. Photographer Olivia Jacquet was the buyer, and the seller was 169 NY LLC, which bought the property in 2014 for $3.5 million.
By the Numbers: Renting beats buying in most major U.S. cities
Where is it cheaper to rent an apartment compared to buying a house?
In nearly all of the major cities in the U.S., according to a new report from Realtor.com.
The most renter-friendly market in June was the Austin metropolitan area, where the median rent is $1,467 a month. That’s $1,683 cheaper than the monthly cost of $3,150 to buy a house there, a difference of about 115 percent, according to the report.
In the New York metro area, the median rent in June was $2,912, about 77 percent lower than the monthly cost of $5,140 to buy a house in the region.
If you like this digest, you can get it even earlier — every evening — by subscribing to TRD Data, here.
