There were 258 transactions totaling $357 million recorded in New York City from 4 p.m. on Friday, Oct. 31 through 4 p.m. on Monday, Nov. 3.
🏆 Residential: The Metropolitan Museum of Art had the priciest residential transaction recorded in New York City. The Museum parted with two adjoining townhouses dating to the late 19th century that are internally connected at 6 and 8 East 82nd Street on the Upper East Side for $29 million. The museum had owned them for nearly 50 years. Combined, the homes have a width of 41 feet and span 12,600 square feet. They also have about 3,900 square feet of FAR. It also has an elevator and a garden. The buyer was an LLC that plans to convert the properties into one single-family home. Corcoran’s Carrie Chiang and Andres Perea-Garzon had the listing.
🏆 Commercial: The most expensive commercial deal recorded in the city came in at $9.6 million. The estate of Chris Mitrofanis parted with a one-story commercial building — one to a dry cleaners — at 57 Fourth Avenue in the East Village for $9.6 million. Mitrofanis had owned the property since the 1980s. The buyer was an LLC tied to CM & Associates, led by Christopher Mesbah. The lot spans about 3,000 square feet and was marketed as a development site.
📊 Commercial: Near Grand Central Station, a vacant, seven-story, 14,000-square-foot office building with ground-floor retail at 5 East 47th Street traded for $9.4 million. The buyer was Liberty Grand Central Realty LLC, tied to Victor D. Mejia. The seller, a LLC managed by David Berley, had purchased the property a decade ago for $18.3 million — almost double the most recent sale price. Meridian Capital Group had the listing.
📊 Commercial: FranPearl Equities Corp. offloaded an apartment complex at 12-14 West 68th Street in Lincoln Square for just under $9 million. The buyer was DMC GC Property, LP, managed by Saar Avnery and Yonit Tzadok. The complex last traded in 2009 for $10.6 million.
📊 Residential: Bert and Brooke Baradarian — he’s an associate at a New York-based real estate brokerage and consulting firm — shed a condo at 11 Beach Street in Tribeca for $8.4 million. The buyer was Jessa VanderWeide, a public relations consultant and member of the DeVos family, which founded Amway. The Baradarians had owned the unit since 2017, when they purchased it for $6.3 million. The 3,200-square-foot pad has four bedrooms and three and a half baths. It hit the market for $8.5 million in January. Douglas Elliman’s John Gomes, Fredrik Eklund and Terry Martinolle represented the sellers.
📊 Residential: Matthew and Amanda Mintzer scooped up a sponsor unit at 200 East 75th Street on the Upper East Side for $6.2 million — the unit’s asking price. The four-bedroom pad spans about 2,500 square feet, pricing the deal at nearly $2,500 per square foot. The unit hit the market in March 2024. Compass’ Alexa Lambert, Susan Wires and Marc Achilles had the listing. EJS Development is the developer behind the building.
By the Numbers: Office sector’s growth leads CRE’s pricing recovery
Commercial real estate’s recovery continued in September, with office pricing — once left for dead — posting the strongest growth.
Across all commercial property types, pricing ticked up 0.7 percent in September compared to the month before, according to a third-quarter report from MSCI’s RCA commercial property indices.
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