There were 328 transactions, totaling $705 million, recorded in New York City from late Friday, Aug. 29, through Tuesday, Sept. 2.
🏆 Residential: An Upper East Side penthouse was the top residential closing to hit records in New York City. The luxe condo atop Victor Sigoura’s 109 East 79th Street sold for $33 million to Pixiedust LLC. The seller, Limestone Portfolio S.A., paid $28.1 million for the full-floor, 6,500-square-foot pad in 2022. Modlin Group’s Adam Modlin represented both parties in the deal, which works out to more than $5,000 per square foot. The penthouse has five bedrooms, five and a half baths and two terraces. The listing went live in June 2024 with an asking price of $38 million.
🏆 Commercial: The city’s top recorded commercial deal was in Hudson Yards. Real estate investor David Werner’s $105 million, all-cash acquisition of the office property at 440 Ninth Avenue hit records. The deal works out to $243 per square foot. The sellers were Taconic Investment Partners and Nuveen Real Estate, which paid $269 million for the 18-story, 411,000-square-foot building seven years ago. CBRE’s Doug Middleton and Jack Stillwagon arranged the deal.
📊 Commercial: In Homecrest, an apartment complex at 2450 Ocean Avenue traded for $52.5 million. The seller was a company managed by Eddie Yair, which purchased the property as a development site from the Catholic Church in 2017 for $10.1 million. The buyer was an affiliate of New York-based Golden Arc. The apartment complex was completed in 2018 and stands seven stories tall and measures more than 95,200 square feet. The deal for the 105-unit building pencils out to roughly $550 per square foot. Ladder Capital Finance took over and refinanced a $35 million loan on the property.
📊 Commercial: An affiliate of HUBB NYC Properties paid $20.3 million for an apartment building at 254 Water Street. The seller was Michael Alvandi’s City Urban Realty, which purchased the property in 2019 for $15 million. M&T Realty Corporation holds a $10.2 million mortgage on the building, which spans nearly 28,400 square feet and stands five stories tall. It has 26 apartments.
📊 Commercial: An LLC managed by Noel Blair, an attorney at Blair & Associates, parted with a mixed-use building at 54 Seventh Avenue South in the West Village for $11 million. The buyer was an Omaha, Nebraska-based company owned by Jeffrey Zwieback. The seller purchased the site in 2022 for $11.8 million.
📊 Residential: Mozelle Thompson, an attorney and consultant who once served on the Federal Trade Commission, dropped $17.2 million on a townhouse at 400 West 12th Street, part of the Superior Ink condominium complex in the West Village. The seller, Market Eagle Limited, purchased the property 15 years ago for $11.5 million. The home has five bedrooms, rooftop accessibility and a garden. The seller put the townhouse up for sale in April with an asking price of $18 million. Compass’ Dante Iraola, Ian Slater and Michael Koeneke had the listing.
📊 Residential: A penthouse at One Beacon Court at 151 East 58th Street in Sutton Place changed between two LLCs for $16.5 million. The three-bedroom condo has 13-foot ceilings, Central Park views and three bedrooms across 4,500 square feet. The seller first put the residence on the market in 2021 for $18.5 million with Sotheby’s International Realty.
📊 Residential: Steven Tuttleman, co-founding partner of single-family office Blue 9 Capital, and Elizabeth Cuthrell, a writer and film and theater producer, purchased a condo at 145 Hudson Street in Tribeca from a trust tied to Cambridge Resources CFO Baruch Travitsky, which had owned the unit for a year. The latest purchase price was $8.8 million, down more than 2 percent from its prior purchase price of $9 million. The condo, which went on the market in February for $9.5 million, spans about 3,300 square feet and has four bedrooms, 11-foot ceilings and a chef’s kitchen. Compass’ Clayton Orrigo, Stephen Ferrara and Bobby Larrea had the listing. Danny Davis with Corcoran represented the buyer.
By the Numbers: Who donated to Zohran Mamdani?
Zohran Mamdani, the Democratic nominee for New York City mayor, raked in more than $1 million during the latest campaign donation filing period, with about $19,700 stemming from real estate-related donors, according to an analysis of filings between July 12 and Aug. 18 by The Real Deal, which excluded donations from political action committees.
The largest donations clocked in at $2,100 a piece and came from: Steven Bernhaut, a New Jersey-based developer; Joey Kaempfer of developer McArthurGlen Europe (largely focused on outlet retail centers); and Arif Khan, a self-employed member of the real estate industry in Texas.
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