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Scorecard: Manhattan investment sales hit a four-year low in February
A monthly round-up of news and reports on the commercial market
Manhattan commercial sales dropped to their lowest level in nearly four years in February, with just $557 million in sales recorded, an analysis of NYC Department of Finance data showed.
The largest deal of the month was the $85 million sale of the 11-story office building at 71 Fifth Avenue. But a giant deal went into contract when the Chinese conglomerate HNA Group agreed to pay $2.21 billion for 245 Park Avenue.
In Brooklyn, investment sales jumped 31 percent month-over-month, to $496 million, in February.
The largest deal in the borough was a Williamsburg loft building that sold for $56 million.
