There were 216 transactions totaling $490 million filed in New York City records in the 24 hours before 4 p.m. on Friday, July 31.
🏆Commercial: The biggest commercial sale to hit records was in East New York, where a seven-story, 116,500-square-foot office medical building at 101 Pennsylvania Avenue traded for $89.9 million. The buyer was healthcare REIT Vital Infrastructure Property Trust. The seller was an LLC tied to developer Jonas Rudofsky. The property was built about a decade ago.
🏆Residential: Tribeca logged the priciest recorded home sale in the Big Apple, where a duplex penthouse at Elad Group and the Peebles Corporation’s 108 Leonard Street sold for $15.5 million. The buyer of the 8,800-square-foot sponsor unit was NVNY Enterprises, LLC. The deal breaks down to $1,800 per square foot. The condo has five bedrooms, five bathrooms, two powder rooms and 3,100s square feet of outdoor space. The unit went on the market in April 2025 for $19.3 million. Douglas Elliman’s Elena Sarkissian, Jane Powers and Christopher Salierno had the listing.
📊Commercial: In Whitestone, an affiliate of Schuckman Realty purchased a two-story, 148,600-square-foot retail property at 153-15 Cross Island Parkway for $56 million. The sellers were Redmont Marx LLC and three companies tied to Punia and Marx, Inc. The building had not traded since the 1970s.
📊Commercial: An affiliate of the Glass family, which operates about a dozen ShopRite grocery stores, paid $40.6 million for a shopping center at 1080-118 McDonald Avenue in Brooklyn that already houses a ShopRite. The building stands two stories tall and measures 130,400 square feet. The seller was a company tied to Abraham Leser, who had owned the property for decades.
📊Commercial: On the Upper West Side, a mixed-use building at 500 Columbus Avenue changed hands for $28 million. The seller of the five-story, 12-unit property was CKMR Corporation, which was formerly known as Sloan’s Supermarkets and which had owned the building since the 1970s. Its newest owner is a company tied to Yevgeniy Lvovskiy of the ZHL Group. The property spans 35,300 square feet.
📊Residential: Makeup artist and beauty founder Patricia Ann McGrath sold a condo at 95 Charles Street in the West Village for $7.2 million to a trust. The unit spans 2,300 square feet, pricing the sale at $3,100 per square foot. McGrath purchased the pad in 2003 for $2.2 million.
By the Numbers: Multifamily oversupply pushes U.S. rental vacancies to a near-decade highs
A nationwide apartment building boom may finally give renters the upper hand.
The national rental vacancy rate currently stands at 7.3 percent, its highest level since 2017, according to the U.S. Census Bureau data released Tuesday. The nationwide apartment building boom has decisively created a “renter-friendly” market, economists say.
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