There were 175 transactions totaling $314 million recorded in New York City before 4 p.m. on Monday, Jan. 5.
🏆 Residential: The city’s priciest home sale was in the West Village. Dr. Tandra Hammer sold a 9.5-foot-wide townhouse at 75 ½ Bedford Street, which is known as the narrowest house in the Big Apple, for $4.4 million. The three-bedroom home measures just under 1,000 square feet. The deal works out to $4,400 per square foot. The buyer was Underlake LLC. Hammer purchased the property in 2023 for $3.4 million. It has three bedrooms, 150 square feet of outdoor space and a private garden. The 19th-century home has had a host of famous residents, including Cary Grant, John Barrymore and Edna St. Vincent Millay, after whom the house is named. It went on the market with an asking price of $4.2 million in November. Cortnee Glasser with Sotheby’s International Realty had the listing.
🏆 Commercial: The top commercial transaction recorded in the Big Apple was in Rego Park, where a portfolio of commercial buildings sold for $52.9 million. The seller was Imperial Sterling Corp. and the buyer was Mineola, New York-based Malachite Group, which recently acquired another Imperial property for $13.1 million. The properties are: a 9,500-square-foot retail building at 94-14 63rd Drive; a 4,000-square-foot office building at 95-38 Queens Boulevard; a 4,000-square-foot store at 63-79 Saunders Street; a 7,700-square-foot store at 95-40 Queens Boulevard; a 13,000-square-foot store at 95-60 63rd Drive; a 21,000-square-foot store at 96-44 Queens Boulevard; and two more retail properties at 95-05 and 95-02 63rd Drive.
📊 Commercial: Related Companies and Oxford Properties Group dropped $52 million on a parcel at 463 10th Avenue, which will be part of its under-construction office tower at 70 Hudson Yards. The seller was an LLC tied to Soheil Khayyam that had owned the site for decades. Related and Oxford announced that the firms also secured $2.45 billion in financing for the 1.4-million-square-foot office tower, which will be Deloitte’s new U.S. headquarters. The financing, led by Wells Fargo, Bank of America and Standard Chartered, includes a $1.6 billion construction loan.
📊 Commercial: An LLC tied to Great Neck-based Namdar Realty Group and Klosed Properties purchased a commercial condo at Essex Crossing’s 140 Essex Street, a newly built senior housing complex, for $7.6 million from an LLC tied to Settlement Housing Fund and Essex Crossing’s sponsors, which include Taconic Investment Partners. The unit spans about 10,200 square feet, pricing the deal at roughly $745 per square foot. It is fully occupied and has about 140 feet of frontage along Essex Street, according to Klosed.
📊 Residential: In Gramercy Park, Dr. Nina Vincoff, a radiologist, and Gary Vincoff offloaded a condo at 200 East 21st Street for $4.2 million. The three-bedroom, 1,800-square-foot pad went on the market in July for about $4.4 million. The pair had bought the unit for $4.1 million in 2019. The unit’s new owners are Min Ji Song and Yunqi Zhang. Corcoran’s David Eskander and Noble Black represented the sellers in the latest deal, which pencils out to about $2,300 per square foot.
By the Numbers: Home mortgage firms led REIT performance in 2025
Among public real estate investment trusts, mortgage firms won 2025.
The FTSE Nareit Mortgage REITs Index, which covers 32 public REITs, ended last year up 16 percent, according to Nareit, a REIT industry organization.
Residential mortgages fueled the rise, likely buoyed by three interest-rate cuts at the back end of the year. For instance, one mortgage REIT, New York-based MFA Financial, saw its total returns rise by nearly 6 percent last year. Overall, the total returns for mortgage REITs were up by more than 26 percent for the year, according to Nareit.
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