INVESTMENT SALES IN MANHATTAN AND BROOKLYN
Manhattan investment sales slowed down in July with $2.06 billion in deals recorded, 41% down from June and 17% below the 12-month average. The borough's largest deal went to California-based DivcoWest Real Estate Investments, which bought 540 Madison Avenue from Boston Properties for $310 million - its second office acquisition in NYC. Brooklyn's investment sales market continued to gain speed in July with $636 million in deals recorded, 29% up from the month prior and 8% above the 12-month average. The borough's top deal saw Toby Moskovits' Heritage Equity Partners sell 564 St. John’s Place to Harbor Group International for $117 million, a year after saving the apartment building from foreclosure.
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 further in July with just $226 million in deals recorded, about half of both the previous month's volume and the 12-month average. The borough's top deal went to Turnbridge Equities and an insitutional partner, who picked up the FedEx ship center at 58-95 Maurice Avenue from CMJ Realty for $40 million. The Bronx's investment sales market held steady in July with $231 million in deals recorded in June, up 1% from the month prior and 2% below the 12-month average. The borough's top deal saw Stellar Management sell the Highbridge House rental tower at 1133 Ogden Avenue for $77 million to Camber Property Group and Belveron Partners, who plan to return the building to complete affordability.
TOP QUEENS INVESTMENT SALES RECORDED
TOP BRONX INVESTMENT SALES RECORDED