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
Source: TRData analysis of NYC Dept. of Finance records
BROOKLYN INVESTMENT SALES
Source: TRData analysis of NYC Dept. of Finance records
TOP MANHATTAN INVESTMENT SALES RECORDED
Property Sales Price Buyer/Seller Listing Brokerage
711 Fifth Avenue (office building) $909 million Nightingale Properties & Wafra Capital Partners / The Coca-Cola Company Cushman & Wakefield
345 Park Avenue South (office building) $345 million Deerfield Management / RFR Realty CBRE
45 Rivington Street (healthcare facility) $159 million Anonymous buyer / Slate Property Group, China Vanke & Adam America Group N/A
52 West 36th Street & 30 West 31st Street (hotels) $137 million Aju Hotels & Resorts / Park Hotels & Resorts N/A
Source: TRData analysis of news reports and NYC Dept. of Finance records in December
TOP BROOKLYN INVESTMENT SALES RECORDED
Property Sales Price Buyer/Seller Listing Brokerage
Greenpoint Landing parcels (partner stake, development site) $226 million Brookfield Properties / Park Tower Group N/A
240 Willoughby Street (healthcare facility) $95 million Rabsky Group / Brooklyn Hospital Center Cushman & Wakefield
134-154 Morgan Avenue (warehouses) $81 million Terreno Realty Corporation / Millstone Management N/A
469 President Street & 514 Union Street (development site) $44 million Avery Hall Investments / EcoRise Development JLL
Source: TRData analysis of news reports and NYC Dept. of Finance records in December
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.
QUEENS INVESTMENT SALES
Source: TRData analysis of NYC Dept. of Finance records
BRONX INVESTMENT SALES
Source: TRData analysis of NYC Dept. of Finance records
TOP QUEENS INVESTMENT SALES RECORDED
Property Sales Price Buyer/Seller Listing Brokerage
145-07 156th Street & 19 others (part of national industrial portfolio) $129 million Blackstone Group / TA Realty N/A
3046 Northern Boulevard (self-storage warehouse) $32 million Clutter / Storage Fox N/A
97-29 64th Road (development site) $15 million NuVerse Advisors / Linlin Zhuo et al. N/A
37-29 31st Street (development site) $13 million Jian Fei Chen et al. / Achenbaum family N/A
Source: TRData analysis of news reports and NYC Dept. of Finance records in December
TOP BRONX INVESTMENT SALES RECORDED
Property Sales Price Buyer/Seller Listing Brokerage
3414 Park Avenue & 11 others (apartment buildings) $14 million Morrisania Housing Development Fund Corp. & Workforce Housing Group / PRB Realty Corp. N/A
175 Canal Street West (warehouse) $12 million Israel Carmel / Victor Weingarten N/A
286 Rider Avenue (development site) $10 million Heritage Equity Partners / Robert Newblatt Capital Property Partners
330 East 176th Street & 10 others (development site) $6 million Community Access Housing Development Fund Company / Nizao Realty Corp. N/A
Source: TRData analysis of news reports and NYC Dept. of Finance records in December