There were 224 deals recorded, totaling about $342 million, in New York City on Friday, July 11.
🏆Residential: The top residential sale recorded in New York was for a co-op on the Upper East Side. Michael and Claudia Milstein paid businessman Robert Manzo and his wife Cynthia Manzo $20 million for their unit at 885 Park Avenue. Michael Milstein is the co-CEO of Emigrant Bank and Milstein Properties. The unit is a full-floor penthouse that has been on and off the market since 2012. Its most recent price was $27.5 million, according to StreetEasy. The co-op has about 6,000 square feet of interior space and a 3,200-square-foot wraparound terrace.
🏆Commercial: The priciest commercial sale recorded in New York was in East Williamsburg. Three adjacent walk-up apartment buildings at 64, 66 and 68 Maspeth Avenue and another mixed-use property across the street at 65 Maspeth Avenue traded hands for $24.2 million. The sellers were affiliates of New York-based Whitford Management. The buyers were companies linked to Federico Wilensky of Urbana Partners.
📊Residential: Theater director Shira Milikowsky scooped up a co-op at 44 West 77th Street, near Central Park and the Museum of Natural History, in the Upper West Side for $7.1 million. The sellers were Gerald and Paula Fagan, who bought the unit in 2006 for $4.4 million. The three-bedroom residence spans 2,800 square feet, pricing the deal at more than $2,500 per square foot. The Fagans listed the pad in January for $7.3 million. Corcoran’s Cindy Plehn had the listing.
📊Residential: Hugh Fremantle and Susan Stevens paid $6.5 million for a penthouse at 1112 Park Avenue in Carnegie Hill. The sellers were the estate of attorney Jonathan Wainwright and his widow, Candace Wainwright, who bought the home in 2011 for $5.9 million.
📊Commercial: Michael Shah’s Delshah Capital’s sale of a distressed property at 58-60 Ninth Avenue to BNF Capital for $21 million hit the records. Shah put the property into bankruptcy proceedings along with 68 Ganesvoort Street, which also has a buyer, in May.
📊Commercial: Yeshiva Ketane Flushing purchased an 11,700-square-foot, one-story retail property at 533 Park Avenue in Brooklyn for $7 million. The seller was 525 Park LLC, tied to Cheskie Weisz’s CW Realty, who bought the site in 2020.
By the Numbers: Private CMBS Issuance Is Up So Far This Year
In the first half of 2025, commercial mortgage-backed securities issuance from private lenders rose 35 percent from the previous year.
The total for the first six months came in at nearly $60 billion, which is the highest amount in about 15 years, according to data from real estate finance research firm Trepp.
Wells Fargo Securities was the top private-label CMBS bookrunner in the first half of the year, making up about 18 percent of the market. The firm was behind 34 deals totalling about $10.7 billion. Wells Fargo’s activity in the first half of the year was greater than it was in the first half of 2024, when its balance was about $6.7 billion and the firm occupied about 16 percent of the market.
In the first six months of 2025, Wells Fargo Bank was also the No. 1 CMBS loan contributor. The bank so far this year has provided about $10.2 billion in loans, making up 17 percent of the market share.
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