There were 172 transactions totaling $360 million filed in New York City records from 4 p.m. on Friday, June 19, through 4 p.m. on Monday, June 22.
🏆 Commercial: Olmstead Properties and Vertex Properties had the priciest commercial deal to hit records, with the closing of its purchase of the office building at 19 West 44th Street in Midtown. The seller was Savanna, who purchased the Class B, 303,000-square-foot, 16-story property in 2017 for $195 million. The company also spent $20 million upgrading it. Built in 1917, the building is roughly 80 percent leased.
🏆 Residential: The most expensive home sale was on the Upper East Side, where a townhouse at 40 East 73rd Street sold for $21.8 million. The 22-foot-wide home spans about 9,000 square feet across six levels and has six bedrooms, six bathrooms and three powder rooms. Modlin Group’s Adam Modlin and Andrew Nierenberg had the listing. The home had been on and off the market since 2023, when its asking price was $38 million. Its most recent asking price was just under $25 million. The seller was 40 East 73rd – St LLC, which purchased the property two decades ago for $8.1 million. The buyer in the latest sale was 40 East 73 LLC.
đź“ŠCommercial: In Lincoln Square, an apartment complex at 15 and 15A West 64th Street changed hands for $17 million. The buildings stand five stories tall and have a total of 40 apartments. The buyer was an LLC tied to landlords Janusz and Oren Sendowski. The seller, a company linked to investor Elliot Sohayegh, purchased the complex in 2010 for $9.8 million.
đź“ŠCommercial: In the East Elmont section of Queens, a parking lot at 90-26 Grand Central Parkway near LaGuardia Airport sold for just under $13 million. The sellers were companies tied to Janet Huang, Judy Mock and Huei Hsiang Wang. The buyers were entities linked to Guido Subotovsky of Azimuth Development Group and Jacob Feldman.
By the Numbers: Starter home prices hit $1M in record number of cities
Is the starter home disappearing?
U.S. homebuyers increasingly need to drop at least $1 million on starter homes in the country’s top markets, raising questions about the affordability of homes for first-time buyers.
A record 242 cities across 26 states have a typical starter home valued at $1 million or more, according to an analysis by listings platform Zillow, which defines a starter home as a home valued in the lowest third of a region.
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