INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales rebounded in September with $2.47 billion in deals recorded, more than double the prior month's total and slightly above the 12-month average. The borough's largest deal was Nightingale Properties & Wafra Capital Partners' $909 million buy of the Coca-Cola Building (which they flipped to Michael Shvo and Serdar Bilgili the following month). Brooklyn's investment sales market hit an all-year high in September with $779 million in deals recorded, 42% up from the month prior and 31% above the 12-month average. The borough's top deal saw Brookfield Properties take full control of the development at Greenpoint Landing, buying out partner Park Tower Group in a deal that valued the property at $226 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 recovered from a four-month slide in September with $362 million in deals recorded, more than double the previous month's total but still 17% below the 12-month average. The borough's top sale went to Blackstone Group, which paid $129 million to TA Realty for the Queens portion of a national portfolio deal spanning 10 metropolitan areas. While other boroughs rose, the Bronx saw investment sales drop dramatically in September with just $109 million in deals recorded, less than half the month prior and roughly half the 12-month average. The borough's top deal went to the Morrisania Housing Development Fund Corporation, which bought 12 apartment buildings in the Morrisania neighborhood from PRB Realty Corp. for just $14 million.
TOP QUEENS INVESTMENT SALES RECORDED
TOP BRONX INVESTMENT SALES RECORDED