Scorecard: Manhattan investment sales hit a four-year low in February

A monthly round-up of news and reports on the commercial market

TRD New York /
Apr.April 25, 2017 04:30 PM
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Manhattan commercial sales dropped to their lowest level in nearly four years in February, with just $557 million in sales recorded, an analysis of NYC Department of Finance data showed.

The largest deal of the month was the $85 million sale of the 11-story office building at 71 Fifth Avenue. But a giant deal went into contract when the Chinese conglomerate HNA Group agreed to pay $2.21 billion for 245 Park Avenue.

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In Brooklyn, investment sales jumped 31 percent month-over-month, to $496 million, in February.

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The largest deal in the borough was a Williamsburg loft building that sold for $56 million.

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From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

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145-65 Wolcott Street in Brooklyn, 3428 Park Avenue in the Bronx and 20 East 35th Street (Credit: Google Maps)

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Clockwise from top left: 3860 Nostrand Avenue in Brooklyn, 50 Manhattan Avenue and 250 and 254 West 23rd Street (Credit: Google Maps)

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