There were 257 transactions totaling $488 million recorded in New York City over the 24 hours before 4:00 p.m. on Friday, Sept. 26.
🏆 Residential: A Lenox Hill co-op marked the priciest residential sale recorded in the Big Apple. A four-bedroom, full-floor unit at 825 Fifth Avenue sold to a trust for $33.6 million. The sellers were David and Jennifer Fischer, who put the residence on the market in December with an asking price of $37 million. David Fischer is the chairman and CEO of the Suburban Collection and a former ambassador to Morocco. The co-op has three terraces, a library, solarium and Central Park views. The Fischers combined four units to create the full-floor pad, buying the units in 2018 and 2019 for a total of $16 million. Douglas Elliman’s Genevieve Sonsino and Richard McTighe had the most recent listing.
🏆 Commercial: The most expensive commercial deal recorded in New York was on the Upper East Side, where the sale of 809 Madison Avenue for $49 million hit records. The seller was Churchill Real Estate Holdings, which paid $55 million for the 12-story property in 2019. The buyers were developers Harry Macklowe and Abe and Scott Shnay’s SK Development, who intend to convert the building, which sits in a historic district off the corner of 68th Street, into an ultraluxury residential condominium. An Avison Young team led by James Nelson and Brandon Polakoff brokered the transaction.
📊 Commercial: In Crown Heights, developer Yitzchok Schwartz’s YS Developers paid $45 million for two parcels next to another development site in Crown Heights that the company purchased last year. The seller in the most recent sale was an LLC tied to Ian Bruce Eichner’s Continuum Company. The parcels, at 962 and 972 Franklin Avenues, are next to 960 Franklin Avenue, where Schwartz filed plans to build a 300-unit condominium project.
📊 Residential: A sponsor unit at Extell Development Company’s 50 West 66th Street in Lincoln Square along Billionaires’ Row traded for $8.9 million. The buyer was an LLC whose sole member is Luigi Tullio. The buyer put the nearly 2,500-square-foot unit on the market for rent one day after closing, with a base rent of about $40,000 a month.
📊 Residential: Tim and Diana Brodlieb — he is a principal at a car dealership and she works in the healthcare tech space — dropped $7.7 million on a three-bedroom sponsor unit at Sutton Tower at 430 East 58th Street in Sutton Place. The unit measures about 2,300 square feet, pricing the transaction at about $3,300 per square foot. The asking price for the condo was $8.4 million. Corcoran Sunshine Marketing Group is handling sales at the 80-story tower, which was developed by Gamma Real Estate and JVP Development.
📊 Residential: Marilyn Plitman, who was once married to late banker Joshua Yedid, shed a condo at 988 Fifth Avenue that she had owned for 30 years for $17.5 million. The buyers of the full-floor, Upper East Side pad were Iong Seng Xie and Wenjun Qiu. The four-bedroom condo unit has Central Park views, a private elevator landing and wood-burning fireplace. Corcoran’s Leighton Candler and Jennifer Reardon represented Plitman, who put the condo up for sale first in 2019 for $31 million. It has been on and off the market since.
By the Numbers: New home supply drops in August as sales pick up
Sales of new homes picked up in August across the United States to reach an annual seasonally adjusted rate of 800,000, according to data released Wednesday from the U.S. Census Bureau and the Department of Housing and Urban Development. That’s 20.5 percent above July’s rate of 664,000 and a 15.4 percent increase year-over-year from 693,000 in August 2024.
The total estimated number of new homes for sale across the country held steady in August at 490,000, compared to 497,000 in July and 471,000 in August 2024.
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