Manhattan investment sales declined sharply in August, with just over $1.4 billion recorded, the lowest this year. The nearly 60 percent drop from July continued a pattern of peaks and valleys over the past six months. The top sale was of Savanna’s newly built Chelsea540 office building to Dallas-based Ramrock Real Estate for $257 million. In Brooklyn, the most expensive sale went to affordable-housing developer Breaking Ground, which bought a development site at 90 Sands Street from RFR Realty for $170 million. Total sales in the borough came to $775 million, continuing a gradual three-month rise after large spikes in April and May.
| PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
|---|---|---|---|
| Chelsea540 (office and retail) | $257 million | Ramrock Real Estate / Savanna | Lincoln Property Company / Cushman & Wakefield |
| 201-203 East 76th Street and two other buildings (development site) | $164 million | Northwell Health, The University Financing Foundation / GPG Properties | Cushman & Wakefield |
| 685 Fifth Avenue (office) | $135 million | Michael Shvo / General Growth Properties | N/A |
| 220 East 42nd Street (office condo) | $92 million | Visiting Nurse Service of New York / SL Green | Cushman & Wakefield |
| PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
|---|---|---|---|
| 90 Sands Street (development site) | $170 million | Breaking Ground / RFR Realty | N/A |
| 169 Tillary Street (development site) | $60 million | Bruman Realty / STA Parking Corp | N/A |
| 2911 West 36th Street (residential) | $50 million | Spencer Equity / The Orbach Group | N/A |
| 46 Crown Street (development site) | $41 million | Carmel Partners / Cornell Realty Management | N/A |
| PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
|---|---|---|---|
| 82-11 37th Avenue (office) | $56 million | Rockfarmer Properties, RWN Real Estate Partners / Estate of Carlo Cinganelli | N/A |
| New York Armenian Home at 137-31 45th Avenue (residential) | $50 million | Eastone Equities / Armenian Welfare Association of New York | N/A |
| 11-01 43rd Avenue (hotel) | $32 million | Merchants Hospitality Group / Estate of Henry Zilberman | N/A |
| 29-32 Beach Channel Drive (residential) | $19 million | Coney Realty Group / Frisben Realty | N/A |
| PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
|---|---|---|---|
| 288 Walton Avenue (development site) | $17 million | Heatherwood Communities / FBE Limited | Capital Property Partners |
| 3340 Fort Independence Street (residential) | $15 million | 3340 KNBG LLC / Fort Sheri Realty LLC | N/A |
| 769 Bryant Avenue (residential) | $9 million | Bryant Properties 769 LLC / Isaac Kassirer | ZP Realty Capital / Westwood Realty Associates |
| 870 East 162nd Street (residential) | $8 million | Geel East 162nd Street Housing Development Fund Corporation / The Housing Outreach Fund | N/A |