There were 200 transactions totaling $323 million filed in New York City records in the 24 hours before Wednesday, May 20.
🏆 Commercial: The priciest commercial deal to hit records was in Soho, where an apartment complex at 73-75 Sullivan Street sold for $43.3 million. The seller was an LLC tied to developer John Zaccaro Sr. The buyer was an entity led by Michael Allen. The eight-story property, built more than a decade ago, measures more than 32,000 square feet and has 11 apartments.
🏆 Residential: Chelsea had the top recorded home sale in the Big Apple. A two-family townhouse at 348 West 20th Street changed hands for $5.9 million. The seller was an LLC tied to late public administration professor Lewis Friedman and his wife, psychologist Lynn Ellen Passy, who had owned the five-story property since the 1980s. The buyers in the latest sale were Jacob and Staci Meier. The home spans 5,000 square feet, pricing the sale at about $1,200 per square foot. The townhouse went on the market in November, with an asking price of just under $6 million. Compass’ Nick Gavin, Allie Fraza and Ugo Russino had the listing.
📊 Commercial: In Jamaica, a one-story, 47,000-square-foot retail property at 89-28 165th Street traded for $18.5 million. The seller was an affiliate of BLDG Management Co., and the buyer was an LLC linked to Raizel Lebovits. The sale breaks down to roughly $400 per square foot.
📊 Residential: The estate of Spiros Segalas, who co-founded investment management firm Jennison, parted with a co-op at 876 Park Avenue on the Upper East Side for $5.2 million. The buyer was a trust in the name of Kenneth Fishel. The unit has four bedrooms and two and a half bathrooms. Sotheby’s International Realty’s Wendy Arriz and Meghan Miller had the listing. The unit appears to have been on and off the market since at least 2023. Its last asking price was $4.8 million.
By the Numbers: Brooklyn and Queens fuel NYC’s off-market deal surge
Off-market residential deals are no longer just a Manhattan luxury phenomenon.
In 2025, private home sales expanded across New York City, spreading beyond the borough’s traditional ultra-high-end enclaves and deeper into Brooklyn and Queens as brokerages increasingly push sellers toward private listings.
The Real Deal analyzed closed transactions of residential sales in both 2024 and 2025. Brooklyn, Manhattan and Queens all saw off-market sales volume jump at least 30 percent from the year prior. But Queens stood out with the largest share of its 2025 total sales dedicated to those deals.
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