There were 114 transactions totaling $170 million filed in New York City records in the 24 hours before 4 p.m. on Tuesday, May 12.
🏆 Commercial: King David of Brooklyn, tied to nursing home operator Robert Lichtschein, offloaded a drug and alcohol rehabilitation center at 2316 Surf Avenue in Coney Island for $17.2 million, representing the priciest commercial deal to hit records in New York City. The buyer was an LLC tied to Joel Basch. The seller had bought the property, which spans more than 40,300 square feet and stands four stories tall, in 1997.
🏆 Residential: The top recorded home sale in the Big Apple was near Grand Central, where Travis and Rachel Rhodes — he is president of Boston-based Abrams Capital — dropped $11.2 million on a penthouse at 520 Fifth Avenue. The condo, a sponsor unit, spans just over 2,600 square feet, pricing the sale at roughly $4,300 per square foot. The residence has three bedrooms, three and a half bathrooms and direct elevator entry. It went on the market in December 2024 with an asking price of $11.8 million. Corcoran is handling sales at the property, which was developed by Rabina.
📊 Residential: The Brooklyn Briarcliff Trust, with David Legacki as trustee, scooped up a condo at 157 Hudson Street in Tribeca for $8.5 million. The seller was a company tied to Christopher and Nan Crampton, who had purchased the unit in 2017 for $7.9 million. The unit is a duplex penthouse measuring about 3,900 square feet, with three bedrooms and three and a half bathrooms, according to a former listing for the condo.
📊 Residential: Entertainment attorney Arthur Indursky parted with a co-op at 755 Park Avenue in Lenox Hill for $4.9 million. The buyer was a trust. The two-bedroom pad spans about 2,600 square feet, according to a former listing for the unit. The deal breaks down to about $1,900 per square foot.
By the Numbers: South leads U.S. in existing home sales growth
Fueled by tempered price growth, the South is leading the country for existing home sales.
Across the U.S., there were just over 4 million existing homes sold in April, up 0.2 percent flat from the month prior and unchanged from the year before, according to a new release from the National Association of Realtors.
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