INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales stayed almost flat in June with $3.49 billion in deals recorded, 35% above the 12-month average. The strong showing was largely thanks to one giant deal, which saw the Related Companies and Allianz buy up WarnerMedia's 1.5-million-square-foot office condominium at 30 Hudson Yards for $2.2 billion. Brooklyn's investment sales market bounced back somewhat in June with $492 million in deals recorded, 75% up from the month prior but still 17% below the 12-month average. The borough's top deal went to the Holterbosch family, a German-American beer dynasty, which picked up a 100% market-rate rental building at 100 South 4th Street from Meadow Partners for $61 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 sales market slowed down in June with $409 million in deals recorded, 17% down from the previous month and 11% below the 12-month average. The borough's top deals were for a pair of rent-stabilized buildings on Ash and Beech Avenues in Flushing, which Zara Realty acquired from Ilias Theodoropoulos for a total of $80 million. The Bronx's investment sales market continued to regress from April's peak with $229 million in deals recorded in June, down 11% from the month prior and slightly under the 12-month average. The Holterbosches made a borough-topping buy here as well, picking up an Amazon last-mile warehouse at 1300 Viele Avenue for $70 million - almost three times what sellers MRP Realty and AEW Capital Management paid for it in late 2017.
TOP QUEENS INVESTMENT SALES RECORDED
TOP BRONX INVESTMENT SALES RECORDED