There were 143 transactions totaling $361 million filed in New York City records in the 24 hours before 4 p.m. on Tuesday, May 26.
🏆 Commercial: Soho logged the top commercial real estate deal recorded in New York City, where an LLC tied to Capstone Equities took over a six-story office property at 140 Crosby Street in a deal valued at $51.4 million. The prior owners were an affiliate of Madison Capital and Vornado, which had purchased the 32,300-square-foot building in 2016 for $38.8 million. Capstone had taken over the debt for the property last summer and foreclosed on it. The case was dropped earlier this month.
🏆 Residential: The top recorded home sale was on the Upper East Side, where David Rogers and Elizabeth Dexter scoop up a co-op at 778 Park Avenue from William Lauder, chair of the board of the Estée Lauder Companies. The price tag was $21.3 million. The full-floor unit has five bedrooms, five full bathrooms, two half bathrooms, four staff rooms and three wood-burning fireplaces. Its last asking price was $22.5 million. It went on the market with Corcoran’s Cathy Franklin and Alexis Bodenheimer in December 2024.
📊 Commercial: Gary Barnett’s Extell Development Company purchased the American Jewish Committee office building at 165 East 56th Street for $39 million. The AJC had marketed the 60,000-square-foot, eight-story building as a candidate for residential conversion. The purchase is near another Extell development site a couple of blocks away on Park Avenue.
📊 Residential: Miki Naftali’s Naftali Group sold two townhouse units, each measuring about 7,700 square feet, at The Henry at 211 West 84th Street on the Upper West Side for $17 million a piece, slightly above their asking prices. Adam and Suzanne Zimbler purchased one of the townhouses, and a trust purchased the other. Each is 42 feet wide with six bedrooms. Compass’ Alexa Lambert, Alison Black and Shelton Smith had the listings.
📊 Residential: In Lenox Hill, Michael and Edith Blair parted with a co-op at 535 Park Avenue for $8.6 million. The buyers were hedge funder Barry Feirstein and Julienne Kuttel, who recently purchased another co-op in the same building for $8.5 million.
By the Numbers: National home prices inch up as major metros slide
U.S. home prices are sending mixed signals.
At the national level, home prices are steadily creeping up. That runs counter to what is happening in more than half of the nation’s most populous areas, where pricing is falling back to pre-pandemic norms.
Compared to the year before, housing prices in March were up 0.7 percent, according to the S&P Cotality Case-ShIller U.S. National Home Price NSA Index. However, that annual growth rate was slightly under that of the month before, which was 0.8 percent.
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