There were 257 real estate transactions totaling $488 million recorded in New York City over the 24 hours before 4:00 p.m. on Friday, September 26.
The most expensive residential sale was a four-bedroom, full-floor co-op at 825 Fifth Avenue in Lenox Hill. The property sold to a trust for $33.6 million. The sellers, David and Jennifer Fischer, had listed the residence in December with an asking price of $37 million. David Fischer is chairman and CEO of the Suburban Collection and previously served as ambassador to Morocco. The apartment features three terraces, a library, solarium, and views of Central Park. The Fischers combined four units purchased in 2018 and 2019 for a total of $16 million to create the full-floor home. Douglas Elliman’s Genevieve Sonsino and Richard McTighe managed the most recent listing.
On the commercial side, the largest deal was for 809 Madison Avenue on the Upper East Side, which sold for $49 million. Churchill Real Estate Holdings was the seller; it had acquired the 12-story building for $55 million in 2019. Developers Harry Macklowe and Abe and Scott Shnay’s SK Development bought the property with plans to convert it into an ultraluxury residential condominium. An Avison Young team led by James Nelson and Brandon Polakoff brokered this transaction.
In Crown Heights, Yitzchok Schwartz’s YS Developers paid $45 million for two parcels adjacent to another site they acquired last year. The seller was an LLC linked to Ian Bruce Eichner’s Continuum Company. These parcels at 962 and 972 Franklin Avenues are next to 960 Franklin Avenue, where Schwartz has filed plans for a 300-unit condominium project.
A sponsor unit at Extell Development Company’s 50 West 66th Street in Lincoln Square along Billionaires’ Row changed hands for $8.9 million. The buyer was an LLC solely owned by Luigi Tullio, who put the nearly 2,500-square-foot unit up for rent one day after closing with a base rent set at about $40,000 per month.
Tim and Diana Brodlieb purchased a three-bedroom sponsor unit at Sutton Tower (430 East 58th Street) in Sutton Place for $7.7 million—about $3,300 per square foot on approximately 2,300 square feet of space. The original asking price was $8.4 million; Corcoran Sunshine Marketing Group is handling sales at this tower developed by Gamma Real Estate and JVP Development.
Marilyn Plitman sold her condo at 988 Fifth Avenue after owning it for three decades; she received $17.5 million from buyers Iong Seng Xie and Wenjun Qiu for her full-floor Upper East Side residence featuring Central Park views, private elevator landing, and wood-burning fireplace. Corcoran’s Leighton Candler and Jennifer Reardon represented Plitman during this sale; she initially listed it in 2019 with an asking price of $31 million.
Nationally, new home sales increased across the United States in August according to data from the U.S Census Bureau and Department of Housing and Urban Development (https://www.census.gov/construction/nrs/pdf/newressales.pdf). Sales reached an annual seasonally adjusted rate of approximately 800,000 homes—20 percent higher than July’s rate—and up more than fifteen percent compared to August last year (2024). Meanwhile, new home inventory remained stable nationwide at around half a million units available during August.
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