New York City investment sales through August 2018

A roundup of news and data on the commercial market

Oct.October 01, 2018 10:00 AM

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.

 

PROPERTYSALES PRICEBUYER/SELLERLISTING
BROKERAGE
Chelsea540
(office and retail)
$257 millionRamrock Real Estate /
Savanna
Lincoln Property
Company /
Cushman & Wakefield
201-203 East
76th Street and
two other buildings
(development site)
$164 millionNorthwell Health, The University
Financing Foundation /
GPG Properties
Cushman &
Wakefield
685 Fifth Avenue
(office)
$135 millionMichael Shvo /
General Growth Properties
N/A
220 East 42nd Street
(office condo)
$92 millionVisiting Nurse Service
of New York / SL Green
Cushman &
Wakefield


PROPERTYSALES PRICEBUYER/SELLERLISTING
BROKERAGE
90 Sands Street
(development site)
$170 millionBreaking Ground /
RFR Realty
N/A
169 Tillary Street
(development site)
$60 millionBruman Realty /
STA Parking Corp
N/A
2911 West 36th Street
(residential)
$50 millionSpencer Equity /
The Orbach Group
N/A
46 Crown Street
(development site)
$41 millionCarmel Partners /
Cornell Realty Management
N/A


PROPERTYSALES PRICEBUYER/SELLERLISTING
BROKERAGE
82-11 37th Avenue
(office)
$56 millionRockfarmer Properties,
RWN Real Estate Partners /
Estate of Carlo Cinganelli
N/A
New York Armenian
Home at 137-31 45th
Avenue (residential)
$50 millionEastone Equities /
Armenian Welfare
Association of New York
N/A
11-01 43rd Avenue
(hotel)
$32 millionMerchants Hospitality Group /
Estate of Henry Zilberman
N/A
29-32 Beach Channel
Drive (residential)
$19 millionConey Realty Group /
Frisben Realty
N/A


PROPERTYSALES PRICEBUYER/SELLERLISTING
BROKERAGE
288 Walton Avenue
(development site)
$17 millionHeatherwood Communities /
FBE Limited
Capital Property
Partners
3340 Fort
Independence Street
(residential)
$15 million3340 KNBG LLC /
Fort Sheri Realty LLC
N/A
769 Bryant Avenue
(residential)
$9 millionBryant Properties 769 LLC /
Isaac Kassirer
ZP Realty Capital /
Westwood Realty
Associates
870 East
162nd Street
(residential)
$8 millionGeel East 162nd Street
Housing Development
Fund Corporation /
The Housing Outreach Fund
N/A

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