JLL also had a strong year, piling up 13 deals for its $3.2 billion total and jumping up one spot on the ranking. But its overall showing was boosted by one big deal: representing the Olayan Group and Chelsfield on their $1.4 billion Sony Building acquisition in June...

The owners, Joseph Chetrit’s Chetrit Group and David Bistricer’s Clipper Equity, pulled the plug on a 96-unit, Robert A.M. Stern-designed condominium conversion of the upper floors of the iconic 37-story property at 550 Madison Avenue. When Olayan America, the U.S. investment arm of Olayan Group, entered contract in April, construction had already begun on the 170-key New York Masterpiece Hotel. The abandoned project was seen as a sign of a softening luxury market. Olayan secured a $570 million bridge loan for the purchase and hired a CBRE team to market 850,000 square feet of office for lease. Olayan’s minority partner on the purchase was Chelsfield, an asset manager active in Europe and Asia...