Buildings for Sale:
- The Dermot Company and Rockwood Capital are eyeing a price tag of $115 million for their multifamily rental building at 250 East Houston Street.
- Brooklyn Mirage, the live music venue, is facing demolition. Its owner has filed for a permit to fully demolish 32,000 square feet of the complex, which totals approximately 80,000 square feet. This move comes as the bankrupt venue is in the process of being sold to its lender. The estimated cost for this demolition is $1.5 million.
- Rockwood Capital has listed its 230,000-square-foot office building at 1 Broadway, asking $180 million.
- Sherwood wants to sell 460 10th Avenue along with plans for a 233-unit resi building, hoping for $100 million.
- LuxUrban Hotels is facing liquidation, capping off its failed bid to build a boutique empire in New York. The short-term hotel operator's Chapter 11 case was converted to Chapter 7 after federal officials accused company leadership of "gross negligence" and mismanagement.
- Clarion Partners and Alchemy Properties face foreclosure on their 24-story, 211,000-square-foot property at 209-211 East 43rd Street. A Miami-based plaintiff sued a linked LLC, alleging default on a $57 million loan.
- A&E Real Estate faces foreclosure at 1080 Amsterdam Avenue, near Columbia University, over a $29 million loan default. Apex Bank is suing to seize and sell the 20-story, 96-unit tower to recover the $28.3 million owed, plus interest and fees, after A&E allegedly missed three months of mortgage payments and violated other loan terms.
- Parkview Financial has filed for Chapter 11 bankruptcy at the Hudson Hotel site, aiming to recapitalize the building and convert it into 400 rental units. This move follows a dispute with developer CSC Real Estate, whom Parkview sued for alleged construction mismanagement after CSC dodged a foreclosure. The bankruptcy is not expected to impact current residents.
- Chetrit and Stellar's Columbus Square shopping center loan, secured by a 270,000-square-foot center anchored by Whole Foods and Target, has re-entered special servicing due to missed payments. This follows a previous special servicing event in late 2023, which resulted in a three-year extension on the $360 million mortgage.
Buildings Sold:
- SL Green is set to purchase the 36-story Park Avenue Tower located at 65 East 55th Street from the Blackstone Group for $730 million.
- Norges Bank Investment Management and Beacon Capital Partners bought the building for $572 million from Silverstein Properties and the California State Teachers' Retirement System. The 47-story skyscraper at 1177 Avenue of the Americas has 1 million square feet sold for $572 per square foot.
- An MCM-managed fund sold a portfolio of non-union hotels, including the Hilton Garden Inn New York Times Square North, Motto by Hilton, New York City Chelsea, and the leaseholds for DoubleTree by Hilton New York Times Square South and Fairfield Inn & Suites New York Midtown Manhattan, for $489 million to institutional investors. A different MCM fund retains a minority stake, having sold over 90% of its equity in the properties.
- Kam Sang Company acquired the Edition Clocktower Hotel at 5 Madison Avenue from the Abu Dhabi Investment Authority for approximately $250 million.
- Cain snaps up Dominick for $175 million. New York Life Real Estate Investors bought 757 Third Avenue, a 500,000-square-foot Class A building, from BentallGreenOak via deed-in-lieu to avoid foreclosure.
- Arcadia paid $231 million for the 252,000-square-foot hotel at 5 Madison Avenue known as the Edition Clocktower Hotel. The seller was the Abu Dhabi Investment Authority.
- Sapir Corp, controlled by Alex Sapir, filed for insolvency and sold its Nomo Soho hotel for $125 million to Dan Hotels. The company's directors have resigned. The deal awaits court and bondholder approval.
- Weill Cornell Medicine purchased Sotheby's former 500,000-square-foot headquarters at 1334 York Avenue for $510 million, or approximately $1,020 per square foot.
- AmTrustRE is in contract to buy Sapir's 260 Madison Avenue for $217 million. The 570,000-square-foot property is 68% leased, with $10 million in annual NOI.
- An entity connected to Ikea purchased 529 Broadway from Jeff Sutton for $213 million. It's a 58,000-square-foot commercial building occupied by Nike.
- CIM Group sold the Dominick Hotel at 246 Spring Street to Cain International for $170 million.
- 5 East 42nd Street sold for $135 million. The buyer was the Vanbarton Group, and the seller was the Milstein family's Private Bank & Trust (formerly Emigrant Savings Bank). Vanbarton plans to convert the 375,000-square-foot property into a 500-unit apartment complex.
- MML Hospitality bought Nine Orchard for $92 million, or $814,000 per key.
- Morgan Stanley Real Estate Investing bought the property at 83-15 24th Avenue and the adjacent parking lot for $86.7 million. The seller was Blackstone. The 117,000-square-foot facility or $741 per square foot.
- Bonjour Capital purchased the 180-unit apartment section of 1501 Voorhies Avenue from AvalonBay Communities for $75 million. The 28-story building was completed in 2017.
- Madison Realty Capital bought 1580 Nostrand Avenue for $70 million credit. Bid from Developer Karp.
- ATCO Properties sold a stake in a 22-story office tower at 630 Third Avenue for $66.2 million to The Davis Companies and Tribeca Investment Group. ATCO maintains a stake.
- Closer Properties, an affiliate of Xin's family office, bought five adjacent parcels on the Upper East Side for $62.5 million. The sites are 150 East 79th Street, 152 East 79th Street, 154 East 79th Street, 1135 Lexington Avenue, and 1131 Lexington Avenue. Gregg Winter's W Financial was the seller.
- An 83-unit apartment building at 10 Rutgers Street sold for $56.3 million. The buyer was an LLC tied to Tokyu Land U.S. Corp. Acquisitions, and the seller was an LLC signed to AMAC. AMAC still appears to have some connection to the buying entity.
- Unit 121 at Extell's 217 West 57th Street went into contract with a last asking price of $54.9 million. A domestic buyer put down all cash.
- Ben-Josef Group Holdings bought the Chatwal, a Midtown West hotel, for $53.2 million. The firm purchased the ground lease for the 76-room luxury hotel at 130 West 44th Street from an entity connected to the late Iyer Vaidyanathan Narayan's estate.
- Darcy5066 LLC paid $46.7 million on a sponsor condo unit at 50 West 66th Street. The five-bedroom unit spans 6,942 square feet, or about $6,700 per square foot.
- A deal is pending on the 20,000-square-foot townhouse located at 4 East 80th Street.
- Shiya Labin sold 6201 15th Avenue to George Lebovits for $42.3 million. Williamsburg-based limited liability company 6201 BSD, a shell company for Labin, was the seller. The deal breaks down to $280 per square foot.
- A 12-story office property at 75 Maiden Lane sold for $40.2 million. LLCs tied to Robert Wolf and AM Property Holdings Corp sold the building. The new owner is CSC 75 Maiden Prop Co LLC, registered.
- Joseph DiMenna sold the townhouse at 10 East 67th Street for $36 million. The buyer is shielded by an LLC, paid roughly $2,800 per square foot.
- A mixed-use property at 81 Franklin Street sold for $30 million. The buyer was an LLC tied to Slate Property Group and the seller was Francis Moezinia's Rex Properties. The six-story building spans about 26,000 square feet and has 11 apartments.
- The Metropolitan Museum of Art has sold two Upper East Side townhouses located at 6-8 East 82nd Street for a combined asking price of $28 million.
- Thorofare Capital has bought the 99-year ground lease for KPG Funds' Greenwich Village office redevelopment at 132 West 14th Street for $27.7 million. This acquisition ends KPG's plans to transform the former Salvation Army building into a Class A office and retail property. KPG had originally signed the ground lease in 2021 for $22.1 million.
- J. Carey Smit, Nancy Smith and Tristan Smith sold a townhouse at 11 West 12th Street for $26.5 million. The five-story, 25-foot-wide townhouse spans 9,700 square feet and has six bathrooms and a two-car garage. The buyer was 12th Street NY Holdings LLC.
- Rivington Company paid $26.4 million for a development site at 140-142 Fulton Street. The seller was Bank Hapoalim.
- LNR Partners sold a 12-story property at 29 West 35th Street for $25 million; Marty Burger and Andrew Heiberger plan to turn the 85,000-square-foot property into a 107-unit apartment complex.
- The Baudouine Building, an 11-story office property located at 1181 Broadway, has nearly 27,000 square feet and was recently sold for $24 million. The transaction involved an LLC managed by Bahram Hakakian as the seller and another LLC as the buyer.
- Benenson Capital Partners bought a ground-floor retail condo at 542 Broadway for $22.5 million. The seller was 109Co, led by Bastien Broda. The unit, occupied by a New Balance store, is about 7,100 square feet.
- An LLC tied to Acadia Realty Trust sold a retail and office condo at 1035 Third Avenue for $22 million. The buyer was an LLC linked to Albert Rabizadeh. The first-floor retail unit measures about 7,800 square feet, and the office space is 12,800 square feet across floors one and two.
- An affiliate of Torchlight Investors sold three commercial condos at 445 Fifth Avenue for $21.6 million. The buyer was an LLC tied to Stream Line Circle. The combined units have 28,305 square feet or $760 per square foot.
- Kym Louise Johnson and Robert Herjavec paid $20.1 million on a sponsor unit at 111 West 57th Street. The full-floor unit has 4,500 square feet, or $4,400 per square foot.
- A gas station at 127-48 Northern Boulevard sold for $20 million. The seller was a company affiliated with Michael St. John, and the buyer was an entity associated with Eric Wang Li. The property sits on a 0.9-acre lot.
- ABS Partners Real Estate has bought a 75-year ground lease for 515 West 57th Street at a cost of $17.25 million, as indicated by public records. The ground lease, which includes a first right to purchase, was sold by All Mobile Video, a studio and production company.
- MD2 Property Group offloaded two apartment buildings at 4 West 108th Street and 8 West 108th Street in Manhattan Valley for $17.5 million. The buyer was Los Angeles-based Bando Geny 3 LLC. The adjacent properties stand six stories tall and have 48 apartments combined.
- A 3,300-square-foot unit at 988 Fifth Avenue sold for about $16.3 million. The seller was 9885th 12 Flats, LLC, which had purchased the unit in 2022 for $14.6 million. The buyer was 988 5th Avenue 12F LLC.
- The two units, 25A and 24A, at 220 Central Park South sold for the same price: $16.15 million. The buyers were different LLCs. The sellers of the higher unit were Fenglei Fang and his Suning Fang. The seller of the lower unit was Willow Oak Holdings LLC.
- Barbara Corcoran bought a penthouse at 1016 Fifth Avenue for $16 million. The seller was a trust. The pad has three bedrooms, a library, and a terrace.
- Kristian Humer sold a unit at 155 West 11th Street for just under $16 million. The buyer was a trust. The 3,300-square-foot condo has four bedrooms and three and a half bathrooms.
- Ayal Horovits and Michele Bailey-Horovits sold a detached single-family home at 809-815 Avenue J for $15.5 million. The property is one residence with 4,500 square feet across two tax lots. The buyer was an LLC tied to Joseph E. Khezrie.
- A hotel at 29-13 39th Avenue sold for $14.9 million. The buyer was Rialto Capital Advisors. The seller, Long Island City Partners LLC.
- Two commercial condos sold $14.4 million. The ground-floor, 1,700-square-foot unit at 210 West 77th Street, sold for $9.6 million. The sellers, LLCs tied to David R. Mashaal, the condos' new owners are LLCs signed to Mark Hakim.
- Tanya Wexler sold 83 Jane Street for $14.6 million. The buyer was an LLC named after the property's address.
- Barbara Corcoran sold her NYC penthouse for $13.5 million and had invested $2 million in renovations.
- Mark and Elizabeth Greenhill have purchased a 2,800-square-foot penthouse sponsor unit at GFI Capital's One11 Residences at Thompson Central Park (111 West 56th Street) for $12.3 million. This Midtown residence boasts four bedrooms, four bathrooms, and approximately 2,900 square feet of terrace space.
- 12 square feet of signage at 1619 Broadway sold to John Gore Organization for $12.2 million. The seller was Mack Real Estate Group.
- Extell Development Company has sold a sponsor unit at 50 West 66th Street to Christen Lee and Nyssa Fajardo Lee for just over $12 million, or approximately $3,100 per square foot. The unit spans 3,900 square feet.
- David Katz paid $10.8 million on a 4,000-square-foot sponsor unit at The Astor at 235 West 75th Street. A duplex with an additional 3,000 square feet of outdoor space.
- A townhouse at 80 Horatio Street sold for $10.3 million. The seller was 80 Horatio St. Corp. The buyer was an LLC tied to Maurice Regan.
- Chuck Clarvit, Nancy Clarvit sold their penthouse condo at 21 West 20th Street for $10 million or $2,000 per square foot. The buyer was Ceteris Investments LLC: the full-floor 4,800 square feet unit.
- A retail store at 1800 Williamsbridge Road, housing a Citibank, sold for $9.9 million to an LLC managed by Miguel Garcia. The sellers, four LLCs tied to Louis Lefkowitz Realty, had bought the 13,500-square-foot property.
- A co-op at 1175 Park Avenue sold for $9.9 million. The sellers were Richard Hogan and Carron Sherry. The buyer was a trust.
- John J. Sie, and the estate of his wife, Anne M. Sie, sold with a co-op at the Hampshire House at 150 Central Park South for $9.3 million. The unit has three bedrooms, three bathrooms.
- A Staten Island mansion with eight bedrooms that sold for $8.5 million. The sellers of the home at 57 Saint James Place were Richard and Vania Cardinale, and the buyer was Montauk Island Estates LLC, tied to Mohammed S. Azad.
- 192 Stuyvesant Avenue, a 19,000-square-foot, 27-unit apartment building, sold for $8.5 million. The seller was an LLC tied to the Loketch Group, which had bought the seven-story property for $500,000 in 2013. The buyer was an entity linked to Guy Peleg.
- David Krohn, a crypto trader, and Phyllis Lee bought a home at 330 West 88th Street for $8.5 million. The seller was an LLC linked to Mohammad Badaly. The six-story home spans over 7,000 square feet and has more than 1,400 square feet of outdoor space. It has an elevator, four bedrooms and six-and-a-half bathrooms.
- Joshua Silverman and Shirin Ghotbi sold a condo at 101 West 78th Street. Vitaly Kuznetsov and Masayo Oto paid $8.4 million the four-bedroom, 4,000-square-foot unit.
- Harold and Jennifer Shaftel sold a condo at 102 Wooster Street for $8.4 million to an LLC whose sole member is Jeremy L. Goldstein.
- 220-10 Northern Boulevard sold for just under $8 million has 3,900 square feet, or $2,000 per square foot. The sellers were: Mara Ginsberg, Alfred Lama, William Valone, James Vassalotti, John and Adam DiGirolamo and Susan Prober Siegel. The buyer was an LLC with Hui Li as a member.
- Stephen Orlins and Jiaying Jiang paid $7.9 million for a sponsor unit at 15 Hudson Yards. The four-bedroom has over 3,000 square feet or about $2,600 per square foot.
- A four-story, 6,400-square-foot apartment building with four units at 6 East Second Street was sold for $7.9 million. The buyer was an entity connected to Ryan Forman, while the seller was an entity associated with Bray Kelly of KingsRock Advisors.
- A two-family townhouse at 14 Bank Street sold for $7.8 million. The sellers were Gene Kaufman and Terry Eder Kaufman. The buyer was 14 West Village LLC. The townhouse has approximately 3,600 square feet, comprising two two-bedroom triplexes.
- A company tied to Robin Damaghi sold with a brownstone at 405 Sackett Street. The buyer, 405 Sackett Street LLC, paid $7.7 million for the six-bedroom home.
- Eric Scuderi and Natalia Wolff paid $7.6 million on a co-op at 770 Park Avenue. The seller was the estate of Patricia Klingenstein. The four-bedroom co-op comes with a storage rtoom and has two fireplaces and a library.
- William and Leslie Jacques sold a condo at 565 Broome Street. The buyer, AIO NYC RE LLC, paid $7.5 million, about $3,300 per square foot, for the 2,200-square-foot unit.
- A trust tied to Lea DiPerna, owner of a business management firm, sold a 2,700-square-foot condo unit at 173 East Broadway for about $7.5 million. The buyer was an LLC managed by Nicholas Harris Ulanoff.
- V&M Buzzetta Realty Corp. sold four adjacent one-story industrial buildings at 82-88 Apollo Street for $7.4 million. The buyer was Jin Lin Realty LLC. The four buildings span just over 18,000 square feet. The deal works out to roughly $411 per square foot.
- The Renaissance Youth Center purchased a building for $7.3 million at 3485 Third Avenue from an LLC tied to Kiumarz Guela. The five-story building has 33,500 square feet, or $210 per square foot.
- Albino and Morena Rizzuto sold with a multifamily building at 29-06 Crescent Street in Astoria. The buyer, VDI Land Corp., which is tied to Whitestone, New York-based banquet hall Verdi's, paid $7.3 million for the four-story property, which spans about 29,500 square feet and has 38 apartments.
- Susan Huang paid $7.3 million for a unit at 1100 Park Avenue. The seller was a trust tied to Randy Fishman. The unit has three bedrooms, three and a half baths, an in-home gym, and a private elevator landing.
- Rick and Simran Singh paid $7.2 million for a sponsor unit at 1289 Lexington Avenue. The 3,700 square feet condo duplex has four bedrooms and four and a half bathrooms.
- A development site at 28-12 41st Avenue in Long Island City. The price was $7.1 million. The seller is an affiliate of Lily Guo's iCross Capital. The property's new owner is an LLC linked to Aditya Ajaykumar Shah and Palwinder Shah.
- Isaac and Claudia Saide purchased 2173 East Fourth Street for $7 million. The seller was Jonathan Barnathan.
- A commercial condo at 1619 Broadway was sold to Mack Real Estate Group, and the buyer was Nayaan LLC, tied to Saima Chowdhury, who paid $7 million for the 12,300-square-foot unit.
- Rit Venerus, founder of Cal Financial Group, scooped up a sponsor unit at 35 Hudson Yards for just under $7 million. The unit spans about 2,700 square feet and has three bedrooms and three and a half baths.
- The commercial space and 8 of 12 of the property's residential condos sold for $6.9 million. The seller was an affiliate of Amerasia Bank, and the buyer was Farrington Capital LLC.
- David Muir sold his townhouse at 256 West 4th Street for $6.9 million. The buyer was 256 W 4th LLC. The four-story residence features three bedrooms.
- Rachel and Richard Franco sold a nearly 2,900-square-foot, single-family home at 2089 East 4th Street for $6.7 million. The purchaser was a company managed by Haim Chera.
- Avdoo Partners & Development shed two plots of land at 419 and 423 Dean Street in Park Slope for $6.7 million. The buyer was a company managed by Daniel Kaykov. Combined, the lots, which are vacant and zoned for residential use, span more than 5,300 square feet.
- Bruce Harting and Carole Divet Harting sold a co-op at 1185 Park Avenue. The buyer was the Pevaroff Cohn 2006 Family Trust, with Lisa Pevaroff, as trustee. The trust paid $6.6 million for the 3,400-square-foot unit.
- Joanne and Craig Laurie picked up a full-floor condo, a sponsor unit, at 126 East 86th Street, developed by Rybak Development and BK Developers, for $6.6 million. The four-bedroom unit spans about 2,800 square feet and has two terraces.
- Michael and Denise Fazio sold a four-bedroom condo at 62 Beach Street for $6.6 million. The buyer was Jaan Holdings LLC.
- A trust linked to art advisor Paola Saracino Fendi purchased a co-op at 14 East 75th Street from Jonathan and Marjaleena Berger for $6.5 million. The three-bedroom unit has three and a half bathrooms and Central Park views.
- An LLC linked to Jeremy Lo Yi Yun bought a sponsor unit at The Centrale at 138 East 50th Street for $6.4 million. The three-bedroom unit has about 2,800 square feet or $2,300 per square foot.
- An LLC tied to Sun Choi Tsang sold a development site at 37 Meserole Street for $6.4 million. The purchaser was an LLC signed to Zihang Chen.
- Chelsea and Nicholas Scribani paid $6.3 million for a three-bedroom, 2,700-square-foot condo at 212 Fifth Avenue. The seller, an LLC.
- A mixed-use building at 581 Second Avenue sold for $6.2 million. The buyer was an LLC managed by Edward Bergman and the seller was an LLC managed by Adam Mocio. The property has four stories, six apartments and ground-floor retail space.
- A sponsor unit at 500 West 18th Street sold for just under $6 million. The buyer was an LLC led by Peter Spain. The two-and-a-half-bathroom unit is 2,200 square feet or $2,700 per square foot.
- Ian Wace and Gioia Bini bought up a co-at 322 East 57th Street in Sutton Place for just under $6 million. The seller was Dorothy Berwin. The duplex has four bedrooms, a private elevator landing, and a curved staircase.
- In Boerum Hill, a townhouse sold for $5.7 million. Sellers Ruth Schulder and Forrest Zlochiver. The buyers were Dr. Erez Nossek and Sharon Berger.
- A sponsor unit at 53 West 53rd Street was sold to Mansion in NY Corporation, which paid $5.6 million for the pad. The 2,500-square-foot unit, has three bedrooms and three and a half baths.
- An LLC tied to Angela and Joseph Ruggiero sold a four-family home at 29 Second Place. The buyer, an LLC, signed to Carrie Dionisio and paid $5.5 million.
- Thompson, Stella Ogiale purchased a townhouse for $5.4 million. The seller of 217 West 15th Street was a trust tied to Claire Schiffman.
- Brian and Cayla Davis sold a 3,200-square-foot four-bedroom unitfoot a co-op at 1220 Park Avenue for $5.5 million or $1,700 per square foot. The buyers were Willard Boothby and Alice Haven.
- A trust tied to David Kim purchased a condominium at 322 West 57th Street for $5.8 million. The seller was an LLC managed by Soofian Zuberi.
- Anne Patterson Finn sold a co-op at 40 West 77th Street for $5.2 million; The unit's new owners are Michael and Susan Beller. The co-op has four bedrooms and three bathrooms.
- JAM Real Estate Partners paid $5.3 million for a 17-unit apartment building at 333 East 81st Street in Yorkville. The seller was Alvaro Jinete.
- Robert Mitchell Theiss sold a co-op at 119 Waverly Place for $5.1 million. The buyers were Christine and Mark Fisher. The duplex has four bedrooms.