There were 253 transactions totaling $989 million recorded in New York City over the past 24 hours before 2 p.m. on Tuesday, Dec. 30.
🏆 Residential: The top home sale recorded in New York City was in Lenox Hill, where a three-story penthouse at 823 Park Avenue changed hands for $24.2 million — nearly 21 percent off its prior trade price. The seller was an LLC managed by hedge funder Joseph Edelman, and the buyer was an LLC tied to Suzy Welch, widow of famed General Electric CEO Jack Welch. The unit previously sold for $30.5 million in 2008. The 7,200-square-foot pad has five bedrooms, five and a half baths, a private elevator landing, home theater and three terraces. The penthouse has been on and off the market since 2021, when its asking price was $33.2 million. It went into contract at just under $27 million, according to StreetEasy. Compass’ Maria Manuche, Clare Cukier, Michellke Flikerski and Reilly Lavrich had the listing.
🏆 Commercial: The top recorded commercial real estate transaction was Sioni Group and Patriarch Equities’ sale of the Stewart Hotel at 371 Seventh Avenue and a neighboring parking area for $260 million. The buyers, Slate Property Group and its nonprofit partner, Breaking Ground, are converting the 618-key hotel, which had closed in 2022, into a residential property with 579 affordable units. Rents are anticipated to range from $1,385 to $1,731 per month.
📊 Commercial: BrightSpire Capital handed over the keys to an office property known as the Blanchard Building at 21-09 Borden Avenue in Long Island City in a deal that valued the property, which stands seven stories tall and spans 168,000 square feet, at $21.5 million. The buyer was Blanchard 2109 LLC. BankUnited provided a $13.6 million mortgage for the latest purchase. BrightSpire took over the building and a neighboring property two years ago from Related Companies and BentallGreenOak for $63.3 million; those firms had defaulted on those properties’ mortgage, which BrightSpire, a mortgage REIT, held.
📊 Commercial: The City and Country School, a private school, purchased a 3,400-square-foot townhouse at 152 West 13th Street in Greenwich Village for $18.8 million. The seller was an LLC managed by Jean-Pierre Chesse that had purchased the property in 2016 for $15 million. The transaction pencils out to about $5,600 per square foot.
📊 Residential: Shari Coats, an employment attorney, and Stephen Coats, co-founder and managing partner of The Petra Funds Group, offloaded a condo at 100 Barclay Street in Tribeca for $8.3 million. The buyers were Kelly and William Galanis; Kelly Galanis is a Goldman Sachs executive. The Coats had owned the unit since 2022, when they purchased it for $8.5 million. The 3,700-square-foot pad has four bedrooms and four and a half bathrooms. The deal works out to more than $2,200 per square foot. Corcoran’s Tara King-Brown and Danielle Morreale had the listing.
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