🏆Residential: The highest residential deal to hit data was the sale of billionaire developer Stephen Ross’ former penthouse at 25 Columbus Circle in Lincoln Sq.. The total-floor penthouse, which traded between two nameless LLCs, bought for $50.7 million, or $6,200 per sq. foot. The unit measures greater than 8,200 sq. toes and has 5 bedrooms, six bogs and floor-to-ceiling home windows overlooking Central Park. Sotheby’s Worldwide Elizabeth Pattern and Brenda Powers represented each events within the transaction.
🏆Business: Inventive Industries Company offloaded a multifamily property at 54 Carmine Avenue within the West Village that it had owned because the Eighties for $18.8 million. The customer was an LLC tied to Bahram Hakakian of Allied Realty & Improvement. The six-story constructing spans greater than 18,000 sq. toes and has 32 residences, together with ground-floor retail that’s house to the restaurant Market Desk. The transaction works out to greater than $1,000 per sq. foot.
📊Residential: A townhouse at 123 East 69th Avenue within the Higher East Facet traded for $9.9 million, virtually $3 million off its final commerce worth from a number of years prior. The sellers had been James Yellen, an lawyer, and Mary Yellen, and the client was UES Holdings 2015 LLC. The Yellens had paid $12.8 million for the single-family house in 2022. The 20-foot-wide residence dates to the late 1800s and spans about 8,000 sq. toes. It has seven bedrooms, an eat-in kitchen, working fireplaces, a gymnasium, a sauna and a terrace amongst its facilities. It went in the marketplace in March for slightly below $12 million. Sotheby’s Worldwide Realty’s Jeremy Stein and Karen Moreau represented the Yellens.
📊Residential: Infrastructure engineer Peter Merelis, by way of a belief, parted with a co-op at 100 Grand Avenue in Soho for $5.8 million or roughly $2,100 per sq. foot. The consumers, additionally via a belief, had been TV author and producer Jace Richadale and Allegra Richdale, who based a youngsters’s clothes line. The unit spans 2,800 sq. toes and has two bedrooms and two bogs. Compass’ Amy Mendizabal and Calli Sarkesh represented the vendor.
By the Numbers: Where are Saks Global’s stores affected by bankruptcy?
Saks Global filed for Chapter 11 chapter safety on Wednesday, probably leaving massive chunks of invaluable actual property empty. At stake are 173 retail shops that could be shuttered, in response to evaluation by TRD Information.
Saks World, which on its web site claims to personal or management some 13 million sq. toes of gross leasable space, additionally owns Neiman Marcus, which it acquired for $2.7 billion in 2024, and outlet offshoots like Final Name. Saks Off fifth, considered one of these low cost retailers, occupies slightly below half of Saks World’s shops, 77 out of 173. Most of these shops are in California and Florida, which have 12 a chunk.
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