There were 341 transactions totaling $258 million recorded in New York City over the 24 hours before 4:00 p.m. on Wednesday, Sept. 24.
🏆 Residential: The top recorded home sale in New York was for a sponsor unit in Midtown. An LLC linked to Malvinder Bhatia paid $8.8 million for a 3,400-square-foot, four-bedroom condo at 100 East 53rd Street. The deal works out to about $2,600 per square foot. The unit went on the market in May with an asking price of $9.9 million. Corcoran Sunshine Marketing Group is handling sales at the property, which is known as the Selene and was developed by Vanke US, the U.S. affiliate of China Vanke Co.
🏆 Commercial: Long Island City had the priciest recorded commercial real estate transaction recorded in the Big Apple. The Standard Motor Products Building, a six-story, 318,000-square-foot office at 37-18 Northern Boulevard sold for $42.8 million, about 61 percent less than what it treaded for more than a decade ago. The seller was Scott Rechler’s RXR Realty, based in Uniondale, New York, and the buyer was Jack Guttman’s Pearl Realty Management. RXR paid $110 million for the property in 2014. The building is in a portfolio of sub-performing loans that Flagstar Financial sold earlier this year to Lone Star Funds.
📊 Residential: Adam Silver, commissioner of the NBA, offloaded a co-op at The Beresford at 211 Central Park West for $8.5 million. Silver purchased the unit for $6.8 million in 2012, then transferred it several years later into a trust. The buyer in the latest deal was Louise Riggio, widow of Barnes & Noble bookstore founder Leonard Riggio. Douglas Elliman’s Larry Brookner had the listing, which went up in February for $8.8 million. The three-bedroom residence has views of the Museum of Natural History and Central Park.
📊 Residential: Judith Hernstadt, an art collector, paid $7.2 million for a co-op at 550 Park Avenue in Lenox Hill. The five-bedroom pad, sold by Frederick and Marguerite Iseman, went on the market in 2025 for $7.2 million. Frederick Iseman is the chairman and chief executive officer at CI Capital Partners. Coldwell Banker Warburg’s Parisa Afkhami had the listing. The residence has a private elevator landing, a library and unobstructed views of Park Avenue.
📊 Commercial: In Lenox Hill, a duplex townhouse at 166 East 74th Street changed hands for $5.9 million. The seller was a trust tied to Corina Lamotte, who had owned the property for decades, and the buyer was an LLC. The townhouse spans 4,300 square feet and has five bedrooms, five and a half baths, a basement and garden. It went up for sale in April at just under $6 million. Brown Harris Stevens’ Cordelia Robb had the listing.
By the Numbers: These cities are seeing the largest amount of home price cuts
In a fresh sign of a budding buyers’ market, every major metropolitan area in the U.S. saw a greater share of homes sell at a discount in August than a year ago — and most saw their percentage of sales going above ask shrink.
One market stood out in particular for both metrics: Washington, D.C.
In the nation’s capital, a quarter of homes sold with price cuts in August. That’s up almost 7 percent from the same time last year, the highest annual increase among the 10 most populous metros, according to an analysis of Redfin data by The Real Deal.
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