There were 204 transactions totaling $288 million filed in New York City records from 4 p.m. on Friday, June 12, through 4 p.m. on Monday, June 15.
🏆 Commercial: The priciest commercial transaction to hit records was in Clinton Hill, where a stalled residential development at 929 Atlantic Avenue sold for $7.7 million. The property was once owned by Brookland Capital, but Amos Financial took it over amid a foreclosure case in 2022. The property’s latest owner is KG Atlantic Realty Holding Inc., led by president Fei Guo.
🏆 Residential: Soho recorded the top home sale in the city. Selby Drummond, an investor and marketing executive, and Steven Dubb, principal of The Beechwood Organization, parted with a 4,700-square-foot condo at 538 Broadway for $12.8 million or roughly $2,700 per square foot. The buyer was JBX Mercer LLC. Drummond and Dubb purchased the unit in 2023 for $8.9 million.
📊Residential: Related Companies and Oxford Properties Group sold a 3,800-square-foot sponsor unit at 35 Hudson Yards for $7.5 million. The deal pencils out to nearly $2,000 per square foot. The buyer was 35 HY2 LLC. The unit has four bedrooms and four and a half bathrooms; its last asking price was just under $9 million. Corcoran’s Hottinger Team and Arsic Lau Team had the listing.
📊Residential: A trust tied to Delphine Ledroit-Anders scooped up a three-bedroom penthouse at the Forena at 540 Sixth Avenue in the Flatiron District for just under $6 million. The unit measures about 2,100 square feet, pricing the sale at more than $2,900 per square foot. The developers of the condo building are Landsea Homes and DNA Development. Serhant’s Glenn Davis, Austin Goodman and Erin Provost had the listing.
By the Numbers: Number of underwater homes in the US reached 2M
The number of underwater homes in the U.S. is rapidly growing.
For the first time since 2021, the number of homes where loan balances sit at least 25 percent higher than a property’s estimated market value passed the 2 million mark. The figure represents a 15 percent year-over-year increase, according to a new report from real estate analytics firm Attom.
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