INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales rose in July, fueled by two deals involving the Walt Disney Company. In the first, the firm sold its office space on West 66th Street to Silverstein Properties for $1.15 billion. In the second, which happened almost simultaneously, the company paid $650 million to Trinity Church Real Estate for a parcel in Hudson Square.

Source: TRData analysis of news reports and NYC Dept. of Finance records in July
Top Manhattan Investment Sales Recorded
PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
---|---|---|---|
77 West 66th Street, 47 West 66th Street and others (office) | $1.15 billion | Silverstein Properties / Walt Disney Company | Eastdil Secured |
4 Hudson Square (development site) | $650 million | Walt Disney Company / Trinity Church Real Estate | CBRE |
Plaza Hotel at 1 Central Park South (hotel) | $600 million | Qatar’s Katara Hospitality / Sahara Group, Ashkenazy Acquisition, Saudi Prince al-Waleed bin Talal | N/A |
635 Madison Avenue (office) | $153 million | L&L Holdings / SL Green Realty | Cushman & Wakefield |
Source: TRData analysis of news reports and NYC Dept. of Finance records in July
Buyers recorded $3.4 billion in sales in July, up 51 percent compared with the 12-month average. In Brooklyn, the most expensive deal was All Year Management’s purchase of several buildings, including 450 Union Street, for $61 million. Overall, buyers in the borough recorded $692 million in transactions, which was the same as the 12-month average.

Source: TRData analysis of news reports and NYC Dept. of Finance records in July
Top Brooklyn Investment Sales Recorded
PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
---|---|---|---|
450 Union Street and others (commercial) | $61 million | All Year Management / estate of the investor Daniel Tinneny | N/A |
The Edge 22 North 6th Street (retail) | $47.3 million | Gazit-Globe / Madison Marquette | HFF |
542 Atlantic Avenue (commercial) | $27.5 million | Sterling Town Equities / James Pappas and others | N/A |
90-94 4th Avenue (development site) | $22.9 million | Level One Holdings / 94 4TH LLC | N/A |
Source: TRData analysis of news reports and NYC Dept. of Finance records in July
INVESTMENT SALES IN QUEENS AND THE BRONX
In Queens, investment sales rose in July compared with June, topping $422 million. That figure was about 19 percent higher than the 12-month average. It was also more than double the prior month. The borough’s top sale in July was A&E Real Estate Holdings’ $127.5 million purchase of a portfolio of buildings, which included 41-40 Denman Street.

Source: TRData analysis of news reports and NYC Dept. of Finance records in July
Top Queens Investment Sales Recorded
PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
---|---|---|---|
41-40 Denman Street and others (residential) | $127.5 million | A&E Real Estate Holdings / Treetop Development | Rosewood Realty Group |
144-10 135th Street (hotel) | $39.7 million | ASAP Holdings/ Magna Hospitality Group | N/A |
82-46 and 83-15 Lefferts Boulevard (apartment) | $36 million | Cammeby’s International Group / Lefferts Houses Enterprises, Kew Gardens Enterprises | N/A |
37-02 10th Street (development site) | $11.5 million | Dun Zhang / 10th Street Realty LLC | N/A |
Source: TRData analysis of news reports and NYC Dept. of Finance records in July
The seller was Treetop Development. Meanwhile, in the Bronx, buyers recorded $176 million in transactions in total. That was about 13 percent below the 12-month average. The top sale was the purchase of a parcel at 1932 Bryant Avenue for $19.3 million by the Association of New York Catholic Homes.

Source: TRData analysis of news reports and NYC Dept. of Finance records in July
Top Bronx Investment Sales Recorded
PROPERTY | SALES PRICE | BUYER/SELLER | LISTING BROKERAGE |
---|---|---|---|
1932 Bryant Avenue (development site) | $19.3 million | Association of New York Catholic Homes / Second Farms Neighbor- hood Housing Development Fund | N/A |
2718 and 2719 Morris Avenue (apartment) | $16.7 million | Prana Investments / Bilynn Realty III, LLC | N/A |
1459 Wythe Place (apartment) | $14 million | 1459 Wythe A LLC / Ridge Holding Corp. | N/A |
1888 Westchester Avenue (commercial) | $12.3 million | Westchester 1888 Owner / 188 West LLC | N/A |
Source: TRData analysis of news reports and NYC Dept. of Finance records in July