There were 257 transactions totaling $425 million recorded in New York City from 4:00 p.m. Friday, Sept. 19 through 4:00 p.m. Monday, Sept. 22.
🏆 Residential: The top home sale in New York was William Lauder’s trade of his Upper East Side co-op, which sold for a profit. Lauder, the chairman of cosmetics company Estée Lauder, sold his unit at 998 Fifth Avenue for $37.5 million, after paying $23.5 million for the four-bedroom apartment in 2017. The co-op’s new owners are Evan Cheng, the co-founder and CEO of cryptocurrency firm Mysten Labs and Yu-Wen Chang. The deal appears to have been off-market.
🏆 Commercial: A Greenwich Village deal was the priciest commercial real estate transaction in the Big Apple. A 12-story, office-and-retail property at 625 Broadway traded for $41.5 million. The seller was Bethesda, Maryland-based ASB Real Estate Investments and the buyer was the Jackson Group, based in New York. The Israel Discount Bank of New York provided a $22.5 million mortgage for the purchase. ASB took over the property through a foreclosure sale in 2012.
📊Residential: Lea Attalla dropped $18 million on a co-op at 620 Park Avenue in Lenox Hill. The seller was Lara Schmidt Trafelet, a socialite and the ex-wife of hedge funder Remy Trafelet. The four-bedroom residence — a duplex — has terraces and a wood-paneled library. It went on the market for just under $19.8 million in October 2024. Alexa Lambert, Marc Achilles and Georgeana Leontiou with Compass had the listing.
📊Residential: In Kips Bay, a penthouse at the VU New York at 368 Third Avenue, developed by Minrav Development, traded for $9.2 million. The sponsor unit spans roughly 3,000 square feet, pricing the deal at about $3,100 per square foot. The condo is a duplex with 11-foot ceilings, three bedrooms, three-and-a-half bathrooms and a private terrace. The buyer was an LLC. The penthouse first went on the market in early 2022, with an asking price of just under $11 million. Candice Milano, Brett Miles and Malessa Rambarran with Brown Harris Stevens Development Marketing had the listing.
📊Residential: Katherine Embiricos, Greek shipping heiress and ex-wife of real estate mogul Harry LeFrak, paid $9.6 million for a full-floor co-op unit at 635 Park Avenue in Lenox Hill. The seller was a trust that had purchased the residence in 2018 for $12.3 million. The apartment has six bedrooms, a library, a billiard room, gym and multiple fireplaces. The unit first went on the market in 2020 for $27.5 million but was delisted in 2021, according to StreetEasy.
📊Commercial: In Downtown Brooklyn, Alphil Realty LLC and Goldphil Realty Co. shed three three-story retail buildings at 387 Jay Street, 385 Jay Street and 48 Willoughby Street — technically around the corner from the other two properties — for $14.5 million. Alphil had owned 385 Jay Street and the Willoughby Street properties since the late 1970s, and it’s unclear when the other Jay Street building was acquired. The new owner of all three buildings is an affiliate of New York-based United American Land.
By the Numbers: Compass’ Anywhere acquisition: How a combined firm would stack up
Compass’ plans to acquire Anywhere Real Estate are part of the brokerage’s path to dominate the industry, and the seismic deal would push the new combined firm ahead of the residential firm pack.
New York City-based Compass is already the largest residential brokerage in the United States. Last year, the company undertook just over $231 billion in sales, according to data from RealTrends.
Anywhere, the parent company of Corcoran, Sotheby’s International Realty, Coldwell Banker and Century 21, follows with the second-highest amount of deal volume in 2024, with about $184 billion worth of transactions.
Compass’ and Anywhere’s total deal volume for 2024 combined is almost $414 billion. The deal volume for third-place finisher, eXp Realty, is nearly $153 billion — just over a third of the combined total for Compass and Anywhere.
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