There were 264 transactions totaling $1 billion filed in New York City records in the 24 hours before 4 p.m. on Thursday, June 4.
🏆 Commercial: The biggest commercial sale to hit records was Cohen Brothers Realty offloading two properties to Empire State Realty Trust. One was a 35-floor office building at 1400 Broadway in the Garment District for around $61.3 million. It measures about 768,000 square feet, coming to a near $80 per square foot. The second property was a Midtown office building at 112 West 34th Street that went for about $52.2 million. It spans about 806,400 square feet with 25 floors. This breaks down to about $65 per square foot.
🏆 Residential: The top recorded home sale in New York was for a condo in the 127-unit property at 50 West 66th Street on the Upper West Side for about $36.3 million. The seller was Extell Development. The buyer was Sai Raksha LLC. The condo measures about 4,900 square feet; the price per square foot is around $7,400. It contains four bedrooms and five and a half bathrooms. The sale was handled by the Extell Marketing Group.
📊 Residential: A Lenox Hill duplex penthouse at 150 East 78th Street sold for $16.7 million. Both parties were trusts. It spans about 3,800 square feet. It has five bedrooms, five bathrooms and a nearly 280-square-foot terrace, according to the listing. Emily Chen and Donna Olshan with Olshan Realty handled the listing.
📊 Residential: On the Upper West Side, Judith and Thomas Iovino — he founded construction firm Iovino Enterprises — scooped up a co-op at The Dakota at 1 West 72nd Street for $22.5 million. The sellers were retired Wall Street executive Martin Sosnoff and Toni Sosnoff. The pad spans just over 5,000 square feet and has three bedrooms and four and a half bathrooms. John Burger with Brown Harris Stevens represented the sellers, who owned the home for more than four decades. It went on sale in October, with an asking price of $24 million.
📊Commercial: On the Lower East Side, a mixed-use condo development at 139 Bowery sold for about $49.5 million amid a bankruptcy case. The seller was Global Joint Venture and the buyer was an LLC attached to Emerald Creek Capital, the lender on the project. It stands 14 stories tall with 18 residential units and 14 commercial units. The building measures nearly 58,400 square feet; the price per square foot was around $850. Global Joint Venture filed for bankruptcy just over a year ago.
📊Commercial: An LLC tied to S&H Equities parted with a 31-apartment multifamily building at 185 East Houston Street for $30.8 million. The buyer was an affiliate of TARGO Capital Partners. The seller had owned the property for decades. It stands six stories tall and has roughly 27,000 square feet of space.
By the Numbers: Renters keep moving as homeowners stay put across the Sun Belt
The gap between renters moving — and homeowners staying — is widening in many of the country’s Southern cities.
In Port St. Lucie, Florida, renter mobility rose 8.6 percentage points between 2019 and 2024 while homeowner mobility fell 1.3 points, according to a PropertyShark analysis of Census data from 2019 through 2024 in the 100 most populous cities in the country. Similar patterns emerged across dozens of large U.S. cities as high mortgage rates and elevated home prices left more homeowners reluctant to give up low-rate mortgages.
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