There were 256 deals totaling $497 million recorded in New York City in the 24 hours before 4 p.m. on Wednesday, Nov. 26, 2025.
🏆 Residential: The top residential transaction recorded in New York was at The Pierre at 795 5th Avenue in Lenox Hill, where billionaire Larry Ellison purchased two co-ops for $24 million. The seller was a trust tied to late billionaire media titan Sumner Redstone and two other trusts tied to his daughter, Shari Redstone, also a media executive.
🏆 Commercial: The top commercial deal recorded in the city was in the Flatiron District. Olmstead Properties paid $104 million for two office buildings at 381 and 373 Park Avenue South. The seller was ATCO Properties. Empire Capital went into contract earlier this year to purchase the properties, but instead it has retained a small stake in them. The property at 381 Park Avenue South stands 17 stories tall and spans 244,000 square feet, and the 12-story 373 Park Avenue South spans about 112,000 square feet.
📊 Residential: At One High Line in Chelsea, Witkoff Group and Access Industries sold another sponsor unit at its new development at 500 West 18th Street in Chelsea. Jiny Prime Properties LLC dropped $11.8 million on a more than 3,000-square-foot unit with four bedrooms and four and a half baths. The transaction pencils out to about $3,900 per square foot. Corcoran’s Deborah Kern and Steve Gold had the listing. The unit’s original asking price, back in 2022, was just under $13 million.
📊 Residential: Compass broker Clayton Orrigo parted with a corner co-op at the Hudson Mews Cooperative at 256 West 10th Street in the West Village for $4.3 million. The buyers were Thomas and Susan Whitesell. Thomas Whitesell is the head of the debt investment group at Kennedy Wilson. The pad has two bedrooms and two bathrooms. Orrigo purchased the unit in 2017 for $2.1 million and renovated it, according to StreetEasy.
📊 Residential: In Lenox Hill, a co-op at 956 Fifth Avenue changed hands for $9 million. The full-floor home, which had not been on the market for five decades, has five bedrooms and four bathrooms. It went on the market in June for just under $9 million. Brown Harris Stevens’ Frederick Peters and Robert Doernberg had the listing. The seller was a trust tied to Carol O. Collins and the buyer was another trust.
📊 Commercial: An East Village multifamily property at 113 East 11th Street traded for $14.3 million. The seller of the 20-unit, four-story building was an LLC tied to Haskell Real Estate. The buyer was an LLC linked to Bahram Hakakian’s Allied Realty & Development. The property has been in the Haskell family for decades. There do not appear to be any vacant units at the complex, but earlier this year a two-bedroom pad was listed for $5,600 a month.
By the Numbers: U.S. industrial rents climb 6% as vacancy inches up
Across the U.S., rents for industrial assets rose nearly 6 percent year over year to reach $8.73 per square foot in October.
None of the top markets saw rent fall over the past year. But the sector’s rental growth comes as the vacancy rate also increased, by 240 basis points, over the past 12 months to 9.6 percent amid increased inventory, according to Yardi Matrix’s November industrial report.
The market that recorded the strongest year-over-year rent growth was Miami, where the average rent in October was $12.91 per square foot, a roughly 9 percent spike. The vacancy rate in that market was just over 11 percent.
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