There were 166 transactions totaling $279 million filed in New York City records in the 24 hours before 4 p.m. on Thursday, May 14, 2026.
🏆 Commercial: The top commercial real estate transaction to hit records was in Soho, where an office property at 261-267 Canal Street traded for $36 million. The seller was an LLC led by Philip Chong, who had owned the property for decades, and the buyers were companies linked to Abraham Khalili, Jeremy Aidan, Adam Rubin and Husein Jefferjee. It stands six stories tall and spans more than 103,000 square feet.
🏆 Residential: The priciest home sale was on the Upper West Side, where Miki Naftali’s Naftali Group sold a sponsor unit at its luxury development at The Henry at 211 West 84th Street for $28.7 million to Salmira Residences, LLC. The condo, a penthouse, measures nearly 6,700 square feet, pricing the sale at almost $4,300 per square foot. It has six bedrooms, six and a half bathrooms and a terrace. Its last asking price was just under $27 million. Compass’ Alexa Lambert, Alison Black and Lib Goss are handling sales at the property.
📊 Commercial: A two-story, 6,500-square-foot retail property at 34 Union Square East, marketed as a development site by Avison Young, changed hands for $13.6 million. The lot spans 3,300 square feet and can hold a nine-story, nearly 26,600-square-foot mixed-use property, according to the listing. The seller was an affiliate of T30 Capital, which purchased the site in 2024 for $11.2 million. The buyer in the latest deal was an LLC tied to Aron Stark, the younger cousin of the controversial landlord with the same name.
📊 Commercial: The Tri-Boro Shelving & Partition Corp. offloaded a 25,200-square-foot, one-story industrial building at 19-40 Flushing Avenue in Ridgewood for $13.5 million. The sale breaks down to roughly $540 per square foot. The buyer was Fresh Fort LLC. Tri-Boro Shelving had purchased the building a decade ago for $10.5 million.
📊 Residential: A trust paid $7.1 million for a condo at 20 West 53rd Street in Midtown. Its last asking price was $7.6 million. The seller, MZJE LLC, had purchased the three-bedroom pad in 2016 for $9.2 million. Eva Penson with Sotheby’s International Realty had the listing.
By the Numbers: Commercial originations surge 52% amid lender “feeding frenzy”
Commercial lending has staged a rebound, with competition heating up among those vying for the best places to deploy their capital.
In the first quarter, commercial and multifamily mortgage loan originations climbed 52 percent year over year, the greatest annual growth since 2022, according to a report from the Mortgage Bankers Association. Originations were down quarter over quarter, by 30 percent, which is aligned with seasonal patterns.
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