The Real Deal New York

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

A monthly round-up of news and reports on the commercial market
By Adam Pincus | April 25, 2017 04:30PM


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.

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


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