Top 20 NYC Multifamily Sales in 2015

2015 was a busy year for NYC commercial real estate! While Manhattan certainly boasts the title for the most top 20 multifamily property sales over the last 12 months, Brooklyn, Queens, and The Bronx make appearances too.

Find out who the biggest deal-makers were, and what they paid hundreds of millions of dollars for:

1. 240 1^st Avenue, Manhattan

Sale Price: $4,111,111,766

This monumental transaction elevated Blackstone Properties to being one of the top residential landlords in the country. Comprised of two communities, 56 buildings, and over 11,000 units, the Stuyvesant Town – Peter Cooper Village transaction actually takes up both first and second positions on this list; for a combined total of over $5.4B.

2. 342-392 1^st Avenue, Manhattan

Sale Price: $1,345,485,020

Blackstone’s second part of the above deal to take over one of the most expensive slices of NYC real estate.

3. 238-256 W 19^th Street, Manhattan

Sale Price: $196,705,000

Records show this Chelsea apartment building boasts 200 residential units, and 2 commercial units. The residential square footage exceeds 140,000 and the property was built in 1986.

4. 30 Park Avenue, Manhattan

Sale Price: $179,000,000

One of Thor Equities major plays in NYC; this Murray Hill apartment building adds over 200 rental units to the firm’s portfolio. According to The Real Deal the previous owner is believed to be a collaboration of BlackRock and CalPERS.

5. 236 N 10^th Street, Brooklyn

Sale Price: $169,000,000

The only Brooklyn building to make the top ten, this Williamsburg multifamily building evidences the borough’s trendy position as one of the most desirable in the city.

6. 362-372 2 Avenue, Manhattan

Sale Price: $167,500,000

Like Hugh Heffner’s recent listing of the Playboy mansion, the Tausik family reportedly hoped to get as much as $200M for this Gramercy Park apartment building. The Petersfield holds 202 residential units, and 9 commercial units, with tenants including Hollywood Salon, the gourmet Pushcart Coffee, and craft beer and cheese magnet Malt & Mold.

7. 411-425 W 51 Street, Manhattan

Sales Price: $156,500,000

This transaction proves the heat in Hell’s Kitchen’s real estate market still hasn’t gone out. Just steps from great dinning, and the Hell’s Kitchen Flea Market, this luxury elevator apartment provides the new owner 160 prime residential rental units.

8. 75-25 153^rd Street, Queens

Sale Price: $134,000,000

A&E Real Estate picked up this monumental complex in Kew Gardens Hills, Queens, also known as The Opal. Although records show years of permitting struggles, the new sales price proves to be quite a phenomenal win for the seller, the Dermot Co.

9. 210 W 70^th Street, Manhattan

Sale Price: $133,000,000

Lincoln Square has been one of NYC hottest neighborhoods across multiple property types over the last year. Known as Stonehenge 70, this 185 residential unit complex, with restaurant on the ground floor, offers a blend of modern luxury inside, with a touch of 1920’s charm.

It’s worth noting the building was originally marketed as a condo conversion, and that SL Green had purchased an estimated 50% stake in the new owners’ portfolio in 2014.

10. 257-271 South Street, Manhattan

Sale Price: $115,000,000

This Two Bridges deal just off of FDR Drive, was a collaboration between L+M Development and Nelson Management Group, the New York Affordable Housing Preservation Fund, and Citi Community Capital. This is the second recent acquisition along the riverside for L+M.

Here’s the full top 20 most expensive NYC multifamily sales of 2015; the Bronx actually makes an appearance, while NoMad and Coney Island demand they aren’t forgotten with $82M, and $68M deals.

Top 20 NYC Multifamily Sales in 2015