🏆 Residential: The top home sale recorded in New York City on Thursday, Oct. 16, was in Boerum Hill. Software engineers Jessica Dou and Stanley Yang purchased a newly built duplex townhouse within Avdoo & Partners’ Bergen Brooklyn at 323 Bergen Street for its asking price of $4.8 million or about $1,400 per square foot. The residence spans more than 3,400 square feet and has three bedrooms, a home office, two full baths and two half bathrooms. Avdoo & Partners Development Marketing had the listing, which went live in April.
🏆 Commercial: Flushing had the top commercial deal recorded in the city. A gas station at 127-48 Northern Boulevard sold for $20 million. The seller was a company tied to Michael St. John and the buyer was an entity linked to Eric Wang Li. The property, which sits on a 0.9-acre lot, had been in the St. John family since the 1980s.
📊 Commercial: In Stuyvesant Heights, a 19,000-square-foot, 27-unit apartment building changed hands for $8.5 million. The seller was an LLC tied to the Loketch Group, which had bought the seven-story property for $500,000 in 2013. The buyer was an entity linked to real estate investor Guy Peleg. Avision Young was marketing the property on behalf of the seller and noted that the owner renovated the property significantly in 2019; the building also has a J-51 tax abatement until 2034. The building’s most recent asking price was $9.7 million.
📊 Residential: Jed Root, founder of a fashion industry agency, shed a penthouse at 16 Crosby Street in Soho for $4.5 million. The buyers were Martin and Robyn Shore. Martin Shore is a music and film producer and Robyn Shore is the founder of a silk loungewear brand. The co-op measures nearly 3,000 square feet and has two bedrooms, two and a half baths, a fireplace and an oversized skylight in the dining room. The unit first hit the market in 2023 for just under $7 million. Nest Seekers International’s Federico Cutroini represented Root.
By the Numbers: Miami homes linger longest as market slowdown hits top U.S. metros
Homes in the Miami metropolitan area are taking a median of 95 days to sell, nearly a month longer than last year and the longest duration among the nation’s 10 most populous metro areas.
Miami homes are not only sitting on the market the longest, but the Magic City also recorded the greatest yearly increase among the metros, according to an analysis by The Real Deal of Redfin data from Sept. 8 to Oct. 5. Miami was also the only market where the median time to close a sale took longer than it did the previous year. (Chicago’s time to close was flat year-over-year.)
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