There were 225 transactions totaling $1.2 billion recorded in New York City over the 24 hours before 4:00 p.m. on Tuesday, Sept. 23.
🏆 Residential: The top recorded home sale in New York was in the Upper East Side, where a mansion at 127 East 73rd Street changed hands for $26.3 million. The sellers were former Bank of America COO Thomas Montag and his wife, philanthropist and former banker Janet Montag, who purchased the townhouse in 2008 for $32.5 million. The latest transaction represents a 19 percent discount from its prior trade price. The renovated property was built in 1904 by Stanford White and measures 10,000 square feet. It has six bedrooms, five bathrooms, a basketball court, an elevator and a garden. Patricia Farman-Farmaian and Laurie Stolowitz with Compass represented the sellers, who first put the home on the market in April 2024 for $36 million. The new owner is an LLC, which took out a $17.1 million mortgage with JPMorgan Chase Bank for the purchase.
🏆 Commercial: The estate of Carol Bernstein and an LLC managed by Stanley Levin shed a three-story, mental health facility at 38-11 Broadway in Astoria for about $9.8 million, marking the top commercial deal recorded in the city. The buyer was an LLC tied to Jack Cohen’s Comjem Associates. The nearly 32,000-square-foot building appears to have been tied to the Bernstein and Levin families for decades.
🏆 Commercial: Two neighboring apartment complexes, at 499 and 503 Evergreen Avenue in Bushwick, traded for $8.3 million. The buyer was an affiliate of Great Neck, New York-based Parkview Properties. The seller was developer Urban View Development Group. The property at 499 Evergreen Avenue stands five stories tall and has eight apartments, and the building at 503 Evergreen Avenue is four stories high, with nine apartments. Lev Mavashev and Eli Yusupov with Alpha Realty had the listing.
📊 Residential: Psychologist David Guggenheim and Michael Bosworth, an attorney who once served as deputy assistant and deputy counsel to President Barack Obama, purchased a co-op at 15 West 72nd Street from a trust linked to Elizabeth Ann Mandell-Fine for $9 million. The unit, located in the Mayfair Towers in the Upper West Side, has six bedrooms and five bathrooms, according to an old listing. The most recent sale appears to have been off-market.
📊 Residential: In Chelsea, Zoe Martineau and Elia Zaitsev, chief technology officer at CrowdStrike, parted with a 3,000-square-foot condo at the Spears Building at 525 West 22nd Street. The buyer, Brownie Batter LLC, paid $7.2 million, or $2,400 per square foot, for the unit. Martineau and Zaitsev had purchased the condo in March 2024 for $6.4 million. The latest transaction appears to have been off-market.
📊 Commercial: A sliver of land at 21 Park Place in Tribeca traded for $8 million. The seller of the almost 2,000-square-foot lot was an entity tied to Mark Schneiderman that had purchased the site in 2018 for $9 million. The new owner is an affiliate of Angelo Cosentini’s OTL Enterprises.
By the Numbers: Miami tops list of most competitive rental markets
Miami is the hottest rental market in the U.S. — and that’s not because of the weather.
A recent report by RentCafe named the Magic City as the most competitive metro for apartment hunters during the peak summer renting season, as a typical apartment has 19 renters vying for a lease, the highest amount in the country.
Manhattan was fourth on the list, with an occupancy rate of 96.2 percent and 15 renters per open apartment. Brooklyn was seventh, with 12 renters per available unit and an occupancy rate of just under 96 percent.
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