There were 191 transactions totaling $301 million recorded in New York City over the 24 hours before 4:00 p.m. on Thursday, Sept. 18.
🏆 Residential: The top residential deal recorded in New York was in Park Slope, where a five-story, limestone townhouse at 535 First Street traded between two LLCs for $13.9 million; its initial asking price was $18 million, set in May 2024. The single-family home has five bedrooms, a landscaped garden and multiple terraces. Compass’ Tim Malone had the listing. The townhouse last traded in 2017 for just under $6 million.
🏆 Commercial: The West Village saw one of the top commercial transactions recorded in the city. Via an LLC, Janus Sendowski purchased an almost 26-foot-wide, six-story Federal townhome at 280 West 11th Street for $13.5 million. The sellers were software engineer David Shopsin and psychoanalyst Susannah Falk Lewis, who had owned the property since 1991. The nine-bedroom house was once a rental building but now sits vacant. It dates to 1818, when it was one of nine homes built for the clothing merchant Aaron Henry. The building has some 8,000 square feet of living space, along with eight wood-burning fireplaces and access to Bleecker Gardens, a private interior garden. Brown Harris Stevens’ David Kornmeier had the listing.
📊 Commercial: A one-story retail/office building and parking lot at 913 East 108th Street in Canarsie sold for $11.4 million. The seller was an affiliate of Samuel Sherman’s FSNR Acquisition Group, which purchased the 33,000-square-foot property in 2015 for $9.1 million. The buyers were two LLCs tied to Abraham Posner.
📊 Commercial: In Flushing, a four-story office building at 136-81 Roosevelt Avenue changed hands for $10 million. The buyer was a company linked to David Sutton, and the seller was another company tied to Joseph Lo that had taken over the property decades ago.
📊 Residential: At the Madison House in NoMad, which was developed by JD Carlisle Development and Fosun International, Sara, Sophia and Thea Do scooped up a nearly 3,400-square-foot sponsor unit for $11.4 million. The purchase price works out to about $3,400 per square foot for the four-bedroom condo. The first asking price for the unit, from 2019, was just under $14 million, but the deal went into contract at a listing price of just under $12 million, per StreetEasy. Douglas Elliman’s Justin Tuinstra had the listing.
📊 Residential: James and Lindsay Shanahan offloaded a condo and a storage unit at 91 Leonard Street in Tribeca for just under $5 million, its asking price. The purchasers were Randolph and Tabitha Hickman. The Shanahans had owned the unit since 2019, when they bought it for about $4.8 million. The three-bedroom pad spans about 1,800 square feet and has about 460 square feet of private terrace space. The Shanahans put the condo on the market with Compass’ Tod Lewin and Michael Rubin in June.
By the Numbers: Where are home flippers most efficient?
Time is money, and home flippers in Maryland know that.
In the second quarter, Maryland home flippers were the most efficient in the country, according to an analysis by The Real Deal of data from Attom.
These investors had the highest ratio of their gross return on investment compared to the time it took to sell their properties.
In other words, it took flippers in the state an average of 169 days to sell, presumably, their rehabbed homes while generating a gross return on their investment of 75 percent.
In New York, flippers in the second quarter earned a gross ROI of 29.4 percent over an average of 188 days. During the same time last year, it took New York flippers an average of 184 days to sell properties, earning a gross ROI of 42.6 percent.
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