There were 195 transactions totaling $283 million recorded in New York City over the 24 hours before 4:00 p.m. on Wednesday, Oct. 1.
🏆 Residential: The priciest residential deal recorded in New York City was in Greenwich Village, where J. Carey Smith, a Texas-based entrepreneur who founded Big Ass Solutions, his wife Nancy Smith and their son Tristan Smith sold a townhouse at 11 West 12th Street for $26.5 million. The Smiths purchased the home in 2019 for $19.9 million, then put it on the market in June, asking $27 million. The five-story, 25-foot-wide townhouse spans 9,700 square feet and has six bathrooms, a two-car garage, a gym, elevator and movie theater. It also has two terraces and a garden. The buyer was 12th Street NY Holdings LLC.
🏆 Commercial: The top commercial transaction recorded in the city was for a commercial condo at 1619 Broadway, also known as the Brill Building in Times Square. The seller was Mack Real Estate Group, and the buyer was Nayaan LLC, tied to Saima Chowdhury, who paid $7 million for the 12,300-square-foot unit. Mack took over the Brill Building in 2023 in a deal valued at about $216 million.
📊 Residential: In Brooklyn Heights, a block from the waterfront, a trust tied to Michael B. Benner, general counsel at Tishman Speyer, purchased a single-family home at 104 Willow Street for $11.3 million. The seller was an LLC managed by Alison Franco, who is also known as Alison Sargent, who purchased the property in 2014 for $10.6 million. The home dates to 1829 and has five bedrooms and four and a half baths. It spans more than 5,200 square feet. The seller first listed the home for sale in 2021 for $13.8 million, and it has been on and off the market since. Compass’ James Augustine and Emma Teitgen had the most recent listing.
📊 Residential: David Katz dropped $10.8 million on a 4,000-square-foot sponsor unit at The Astor at 235 West 75th Street, developed by CIM Group, on the Upper West Side. The asking price for the penthouse — a duplex with an additional 3,000 square feet of outdoor space — was $12.5 million. Douglas Elliman’s Kyle Egan, Katherine Gauthier and Will Rivera had the listing.
📊 Residential: A Staten Island mansion with eight bedrooms that traded for $8.5 million, the highest sale price ever for the borough, hit records. The sellers of the home at 57 Saint James Place in Todt Hill were Richard and Vania Cardinale, and the buyer was Montauk Island Estates LLC, tied to Mohammed S. Azad, who owns a contracting company. The Cardinales, owners of a chain of bagel restaurants, paid $1.5 million for the site in 2017 and built the 11,000-square-foot property over four years, according to Curbed.
📊 Residential: Joanne and Craig Laurie picked up a full-floor condo, a sponsor unit, at 126 East 86th Street, developed by Rybak Development and BK Developers, on the Upper East Side for $6.6 million. The four-bedroom unit spans about 2,800 square feet and has two terraces. Douglas Elliman’s John Gomes, Fredrik Eklund, Adam Widener, Kevin Stefanak and Mollie Claire Lawrence had the listing.
By the Numbers: Slow and steady: office prices creep up nationally
The office market is slowly regaining its momentum.
In August, office prices were up 1.9 percent compared to three months before, according to MSCI’s commercial property price index. Properties in central business districts saw stronger price growth than those in suburban areas.
However, this growth was slower than the 2.3 percent increase in pricing across all commercial property types during the same period.
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