There were 231 transactions totaling $460 million recorded in New York City over the previous 24 hours before 4 p.m. on Thursday, Jan. 8, 2025.
🏆 Residential: The priciest residential real estate sale recorded in New York City was in Chelsea, where a condo at 555 West 22nd Street sold for $7.7 million. The buyer of the sponsor unit, located in Related Companies and Matsui’s The Cortland at 555 West 22nd Street, was an LLC managed by Mun Soo Kang. Core’s Shaun Osher had the listing. The asking price for the 2,500-square-foot, three-bedroom pad was $8.3 million.
🏆 Commercial: The Meatpacking District had the priciest commercial real estate transaction recorded in the Big Apple, coming in at $71 million. An LLC tied to TPG Angelo Gordon purchased an office complex spanning almost 67,000 square feet at 410 West 13th Street. The Cayre family’s Aurora Capital was part of the selling entity, according to Crain’s, along with an LLC linked to real estate developer and investor Epic. United Kingdom-based Epic acquired the property in 2011 for $69 million.
📊 Commercial: Hotel Vetiver at 29-11 39th Avenue in Long Island City sold for $14.3 million. The seller was an affiliate of Miami-based Rialto Capital Advisors, and the buyer was an LLC named after the property’s address. The Rialto-led entity purchased the building in October for $13.9 million. The 28,400-square-foot hotel dates to 2011. It stands nine stories tall and has 68 rooms.
📊 Residential: George Hickmet, a portfolio manager at Tower Research Capital, parted with a condo at 150 Charles Street in the West Village for $6.6 million, after purchasing it more than two years ago for $5.7 million. The buyer was MJPH2 Company, LLC. The two-bedroom residence spans nearly 1,600 square feet, pricing the more recent sale at roughly $4,200 per square foot. Compass’ Jared Schwadron represented Hickmet, who put the condo on the market for $6.3 million in August.
📊 Residential: Dr. Vicki Porges, a pediatrician, sold a condo at 161 Hudson Street in Tribeca for $5 million. The buyer was Belair Capital LLC. The three-bedroom condo measures 2,400 square feet. Keller Williams’ Nicole Gary represented the seller. The unit’s most recent asking price was just under $5 million.
By the Numbers: Home loan activity surges year over year despite holiday drop
Despite taking a dip during the holiday season, residential mortgage activity continues to remain elevated into the new year.
For the week ending Jan. 2, the number of new purchase mortgage applications tumbled by almost 33 percent compared to four weeks prior, and refinancing applications also were lower, by 37 percent, according to the latest survey from the Mortgage Bankers Association.
However, both purchase and refinance loan application volume were much higher compared to the same time last year. Refinancing activity surged by nearly 108 percent year over year, while purchase applications were up by 10 percent.
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