INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales continued a two-month slide in February with $2.23 billion in deals recorded, below the 12-month average and down by a quarter from the previous month. The top sale of the month went to WeWork, which closed on its $850 million acquisition of the Lord & Taylor building after months of delays. Brooklyn's investment sales market had a slow February as well, with recorded deals totaling $485 million, 37 percent down from January. The borough's top deal came from Simon Dushinsky's Rabsky Group, which sold the Leonard Pointe luxury rental building in Williamsburg to UDR, a Colorado-based landlord, for $130 million.
MANHATTAN INVESTMENT SALES
BROOKLYN INVESTMENT SALES
TOP MANHATTAN INVESTMENT SALES RECORDED
TOP BROOKLYN INVESTMENT SALES RECORDED
INVESTMENT SALES IN QUEENS AND BRONX
Queens' investment sale market saw $449 million in deals recorded in February, the lowest dollar volume since September but still just above the 12-month average. Industrial deals led the way, and the top deal in the borough was Abingdon Square Partners' transfer of a Long Island City self-storage facility to Life Storage for $58 million, followed closely by Blackstone Group's $56 million buy of a warehouse near LaGuardia Airport. The Bronx fell back sharply from January's hot start, with just $150 million in deals recorded in February, a 59-percent decline and 30 percent behind the 12-month average. The largest deal in the borough went to Home Depot, which bought 1806 East Gun Hill Road - already home to one of its retail locations - from Madison International Realty for $33 million.
TOP QUEENS INVESTMENT SALES RECORDED
TOP BRONX INVESTMENT SALES RECORDED