The Real Deal New York

Scorecard: Manhattan I-sales post best month of the year

A monthly round-up of news and reports on the commercial market
By Adam Pincus | July 11, 2017 04:25PM


From the July issue: Manhattan investment sales shot up in May, hitting the highest level since June 2016. But about two-thirds of the $3.6 billion in transactions came from a single purchase: HNA Group’s $2.2 billion acquisition of 245 Park Avenue in The Plaza District.

The other big deal was Ivanhoe Cambridge and Callahan Capital Partners’ purchase of 85 Broad Street for $652 million.

Investment sales in Brooklyn fell by nearly 30 percent from the prior month to $709 million.

The top sale in May was four Red Hook buildings that Sitex Group bought from Est4te Four for $105 million. That was followed by Clipper Equity buying 107 Columbia Heights from the Jehovah’s Witnesses for $87.5 million.