New York Top Real Estate Deals: Friday, July 25, 2025

There were 238 deals, totaling about $723 million, recorded in New York City on Friday, July 25, 2025.

🏆Residential: The top residential sale recorded in New York City was for a “glass box” penthouse at Shibumi Development’s 601 Washington Street in the West Village. The seller was Kain Warwick, who created the Ethereum-based platform Synthetix, and the buyer was an LLC. The quadruplex last traded in 2021 for about $30.7 million. The 7,500-square-foot, six-bedroom unit, which also has two terraces, a hot tub and plunge pool, was put on the market in December for $36.5 million. Serhant’s Ryan Serhant and Scott Francis had the listing.

🏆Commercial: The priciest commercial transaction recorded was in Hell’s Kitchen. An affiliate of J.P. Morgan Investment Management scooped up a 418-unit, 44-story multifamily property at 560 West 43rd Street for $243.5 million. The seller was a company tied to MassMutual Life Insurance Company, which had owned the building for decades. JLL Real Estate Capital provided $128 million in financing for the latest deal.

📊Residential: Jordan Roth, Broadway producer and son of real estate developer Steve Roth, shed a 4,100-square-foot condo unit at 400 West 12th Street, also known as the Superior Ink Condominiums, in the West Village for $19.3 million. The buyer was a company tied to Justin Minskoff. Roth purchased the pad in 2010 for $13.3 million and put it up for sale in January for $19.9 million. Corcoran’s Deborah Grubman and David Adler had the listing.

📊Residential: Thomas and Megan Brodsky scooped up a co-op at 740 Park Avenue in Lenox Hill for just under $15 million — nearly its asking price. Thomas Brodsky is an executive at the real estate development firm the Brodsky Organization. The seller was Giovanna Bongiasca Rosenbloom, via a trust. The duplex has five bedrooms, six and a half baths and a private elevator landing. Serhant’s Ryan Serhant and Chase Landow represented the seller. The unit went on the market in 2023 but was then removed later that year. It was re-listed in September.

📊Residential: Karim Fadel paid $13.5 million for a Chelsea townhouse. The seller of the home at 348 West 22nd Street was Karl Templer, a fashion stylist and creative director who purchased the 21-foot-wide townhouse for $8 million in 2017. The property has five levels, four bedrooms, a steam room and sauna. The townhouse went up for sale in March for $14.5 million. Leslie J. Garfield’s Matt Lesser and Tori Landon represented Templer.

📊Residential: In Greenwich Village, a sponsor condo unit and storage unit at The Katharine at 118 West 13th Street, developed by Slate Property Group, sold for just over $11 million, above its $10.8 million asking price. The buyers were Russell and Alexandra Horwitz. Russell Horwitz is the chief of staff for Goldman Sachs. The Leonard Steinberg Team at Compass is leading sales at the property.

By the Numbers: Price gap between new, old homes shrinking nationwide

New homes are, on average, about 38 percent more expensive than existing ones, but the price gap between the two is closing.

The median value for a new home in the U.S. is $537,791, while an already built house costs a median of $391,210, according to a new report from LendingTree, an online lending marketplace.

Over the past five years, the average difference between a newly constructed property and an existing one was $26,700 — but that figure is down almost 60 percent from the decade prior, 2010 to 2019.

Though this gap is closing, those looking to purchase freshly built homes need $46,114 more annual income to buy new homes compared to existing ones.

In New York, new homes are about 39 percent pricier than existing homes. Purchasers in the Empire State would need to earn around $225,000 to buy a new house, about $63,000 more than if they were to pick up an existing property.