INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales had a slow November with just $1.54 billion in deals recorded, a 46% drop from the month before and 37% below the 12-month average. The borough's largest deal went to the Qatar Investment Authority, which bought the hotel and commercial portions of the St. Regis Hotel building from Marriott International for $310 million. Brooklyn's investment sales also slowed down somewhat, with $503 million in deals recorded in November, 11% down from the month prior and 15% below the 12-month average. The borough's top deal was for the Fairway-anchored Georgetowne Shopping Center in Bergen Beach, which Federal Realty Investment Trust acquired from Sholom & Zuckerbrot Realty for $85 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 took off for the fourth straight month in November, hitting an all-year high of $643 million in deals recorded, 36% more than the previous month's total and 55% above the 12-month average. Most of that sum came from the borough's - and the city's - top deal of the month, which saw Innovo Property Group buy out Westbrook Partners' stake in the massive warehouse at 24-02 49th Avenue for $412 million. Investment sales in the Bronx remained tepid in November with just under $100 million in deals recorded for the first time in a year, down 18% from the month prior and 52% below the 12-month average. The borough's top deal was for a warehouse in Morrisania, which not-for-profit developer Phipps Houses bought from Rodriguez & Rodriguez Storage & Warehouse Inc. for $23 million.
TOP QUEENS INVESTMENT SALES RECORDED
TOP BRONX INVESTMENT SALES RECORDED