There were 187 transactions, totaling $257 million, recorded in New York City on Sept. 3.
🏆 Residential: A Lenox Hill condominium ranked as the priciest residential transaction to hit record books in New York City. Jewelry designer Toni Goutal picked up a three-bedroom, nearly 3,000-square-foot sponsor unit at The Surrey Residences at 20 East 76th Street for $15 million, or roughly $5,000 per square foot — the pad’s asking price. Douglas Elliman’s Lauren Muss and Michelle Griffith had the listing. British billionaires Simon and David Reuben purchased the property, a 100-key hotel, from the Kaufman Organization in 2020.
🏆 Commercial: The city’s top recorded commercial deal was for a six-story, mixed-use apartment building at 271 East Houston Street on the Lower East Side, sold by an affiliate of Dennis Wong’s Verbena Road Holdings. The buyer was an LLC managed by Leor Sabetfard’s The Sabet Group, which paid $7.3 million for the property. The complex, which has 17 apartments, last sold for roughly twice that amount in 2014 — $12.9 million.
📊 Residential: Elliot Cooperstone, founder of private equity firm InTandem Capital Partners, and Barbara Cooperstone paid $11.6 million for a 5,500-square-foot pad at 785 Fifth Avenue in Lenox Hill. The sellers were legal scholars Nicholas Quinn Rosenkranz, who is also the son of billionaire investor Robert Rosenkranz, and Michelle Boardman. The five-bedroom co-op has been on and off the market since at least 2020, when it was listed for $19.9 million, according to StreetEasy. Corcoran’s Deborah Grubman, Judi Feldman and David Adler had the most recent listing.
📊 Residential: In Boerum Hill, a brownstone at 233 Bergen Street changed hands for $5.85 million. The seller was an affiliate of Jersey City-based investor Dixon Advisory and the buyer was Florescimento NY LLC. The four-story townhouse has five bedrooms, five and a half bathrooms, an elevator, four terraces and a backyard. Brown Harris Stevens’ Ari Harkov, Kerrie Lynch and Warner Lewis had the listing, which went live in June for just under $6 million.
📊 Residential: A trust linked to Scott I. Murray purchased a two-bedroom condo at the renovated Waldorf Astoria Residences at 301 Park Avenue in Midtown for about $5.4 million, about 3.2 percent off its original asking price of $5.6 million. The unit measures about 1,700 square feet, pricing the deal at more than $3,100 per square foot. Douglass Elliman’s Loretta Shanahan, Kai Wong, Jade Chan, Noble Black and Sabrina Saltiel had the listing. Dajia US took over the conversion of the iconic property.
📊 Commercial: Affiliates of Parag Sawhney’s Penn South Capital offloaded a four-family, three-story-tall apartment complex at 138 Noble Street in Greenpoint for $5.6 million, about two years after buying the property for $3.2 million. The buyer in the latest transaction was Townhouse Rental II, LLC.
📊 Commercial: In Gravesend, the Sabatino Funeral Home traded for $4.1 million. The seller of the two-story property at 323 Avenue U in Brooklyn was Linda Sabatino, and the buyer was an LLC linked to Alan Karul. The property has been in the Sabatino family for decades.
By the Numbers: REITs, off a summer high, are tested once again
REITs aren’t having the best start to September, after making quite a comeback last month.
Public real estate investment trusts were down more than 1.6 percent yesterday, the first trading day of the month, according to the FTSE Nareit All REITs index, which tracks nearly 200 U.S. public REITs of all stripes.
That’s a turn from the end of August, when the index’s total returns were up 3.3 percent for the month — the second-best performing month so far in 2025 and an improvement from the 1.1 percent drop recorded in July.
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