There were 238 transactions, totaling $469 million, recorded in New York City on Wednesday, Aug. 27, 2025.
🏆 Residential: The top home sale recorded in New York was for a co-op in Greenwich Village. The four-bedroom, three-bath unit at 43 Fifth Avenue traded for $8.6 million. The seller was Palmer 8 LLC and the buyer was Ivy Shapiro, founder of art advisory firm Ivy Shapiro & Partners. The unit had been on and off the market since February 2024, when its initial asking price was $10.6 million. It previously sold for $7.6 million in 2014. Douglas Elliman’s Abigail Agranat and Steve Halprin had the listing.
🏆 Commercial: The city’s top recorded commercial deal was in Crown Heights; Bridges Development Group and ACHS Management Corp. sold a development site at 73-99 Empire Boulevard for $42.5 million. The buyer was Cheskie Weisz of CW Realty. The site is one of the last remaining former parking garages that was built to accommodate traffic to Ebbets Field in the early 20th century. The joint venture had purchased the site in 2021 for $15.2 million. The latest deal is roughly 180 percent more than that. The City Council approved a controversial rezoning of the area in June. An S3 Capital affiliate provided $43.5 million in financing for the latest deal.
📊 Commercial: In Tribeca, a vacant property that had been slated for conversion to a single-family mansion at 11 Hubert Street changed hands for $17.4 million. The buyer was RIL USA, the U.S. arm of Reliance Industries Limited, a Mumbai-based conglomerate whose chairman is billionaire Mukesh Ambani, the 18th-richest person in the world, according to Forbes. The seller, RJP NY Property Holdco LLC, paid just under $20 million in 2018 for the property, which has two city-approved plans for the luxury home from Maya Lin Studios and E. Cobb Architects. The building, a former office that has yet to be converted, first hit the market in 2021 for $25 million then was delisted in late 2024. Compass’ Aaron Mazor with the Hudson Advisory team represented the seller in the off-market deal. Manek Mathur of Sotheby’s International Realty represented the buyer.
📊 Residential: Businessman Robert Tillis shed an apartment at 502 Park Avenue, the Trump Park Avenue, for $7.3 million — about half of what Tillis, the CEO of Imperial Dade, and his wife Meryl paid for it in 2016. The purchase works out to roughly $1,700 per square foot. The buyer is a company tied to California-based developer Hillcrest Company, whose director of acquisitions Ryan Afari told The Real Deal that the apartment will be added to the firm’s portfolio. The unit spans 4,200 square feet and the Tillises bought the unit from an LLC linked to Donald Trump, though he never lived in it. Brown Harris Stevens’ Lisa Simonsen had the listing, and Corcoran’s Whitney Dider represented the buyer.
📊 Residential: The Ashokan Trust dropped $4.4 million on a condo at 42 White Street in Tribeca. The seller was Tomlinson Road LLC, which bought the full-floor unit in 2022 for $2.4 million. The two-bedroom condo has a key-locked elevator that opens to a private foyer, a chef’s kitchen and nine-foot custom oak closets. The unit went on the market in May for $4.3 million. Douglas Elliman’s Jordan Shea and Austin Goodman represented the seller in the latest transaction.
📊 Residential: Peter Deschenes, head of Monura Greentech, and Dr. Margaret McNairy, newly appointed as a medical school professor and department chief at Washington University in St. Louis’ medical school, parted with a co-op at 115 East 67th Street. The buyer, financier Benner Ulrich, paid $4.2 million for the Lenox Hill residence, which last traded for $2.9 million in 2019. The co-op has four bedrooms, three and a half baths and a wood-burning fireplace. Sotheby’s International Realty’s Amanda Cannon Goldworm, Megan Duryea Scott, Merrill Curtis and Geoff McKernan had the listing, and Holly Parker with Douglas Elliman brought the buyer.
📊 Commercial: A trust tied to Kenneth Longtemps, Jr. and Sean Longtemps sold a three-family home at 362 Clinton Street in Cobble Hill for $4.7 million. The buyer was an LLC managed by Omri Bar-Mashiah. The property had been in the Longtemps family since at least the 1970s. The red-brick, four-story home dates to the 1850s and hit the market in March for $4.5 million. Brown Harris Stevens’ Brian Lehner had the listing.
By the Numbers: Non-payments on small multifamily mortgages drop as home loan delinquencies rise
The share of mortgages backing small, multifamily properties that are overdue has long been elevated, in comparison with other property types.
However, it is the only asset class whose proportion of delinquent mortgages dropped year over year in the first quarter, when 2.02 percent of mortgages for properties with two to four units were overdue by 60 or more days, according to data from the Federal Reserve Bank of Philadelphia. That figure was down from 2.07 percent the same time last year, a drop of about 2.4 percent.
Meanwhile, the percentage of delinquent townhouse-backed mortgages rose the most, by 16.67 percent year over year. However, this share is, overall, lower than that of other groups. Just 0.56 percent of mortgages for these properties were overdue in the first quarter.
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