There have been 168 transactions totaling $258 million filed in New York Metropolis information within the 24 hours earlier than Friday, Might 22.
🏆 Business: The priciest business deal to hit information was in Williamsburg, the place a mixed-use property at 499 Grand Avenue traded for $7.5 million. The vendor was an LLC tied to Greenbrook Companions, and the client was Townhouse Rental II, LLC. The constructing stands three tales tall and has ground-floor retail with residences on the higher ranges. It final bought in 2024 for $3.8 million.
🏆 Residential: The highest recorded residence sale was on the Higher East Facet, the place a belief tied to the late philanthropist Suzanne von Liebig bought a co-op at 969 Fifth Avenue for $13 million. The customer additionally was a belief. The unit is a duplex with three bedrooms and 4 and a half loos. Its final asking value was $13.5 million. Adam Modlin and Andrew Nierenberg with the Modlin Group had the itemizing.
📊 Residential: Ravi and Sharmila Sinha bought a rental at Naftali Group’s 255 East 77th Avenue on the Higher East Facet for $11.7 million. The three,900-square-foot sponsor unit has 5 bedrooms and 5 and a half loos. It additionally has a number of terraces that span a mixed 1,300 sq. toes. The unit hit the market in November 2024 for slightly below $11 million. Compass’ Alexa Lambert, Alison Black and Shelton Smith had the itemizing.
📊 Residential: On the Higher West Facet, a 4,400-square-foot penthouse at 15 West 96th Avenue bought for $11.5 million. The rental, a duplex, has 5 bedrooms, 4 and a half loos and a wraparound terrace. It first hit the market two years in the past, with an asking value of $18.5 million. Its most up-to-date asking value was $12.5 million. Compass’ Shane Boyle, Will Ortman and Francesca Paone had the itemizing. The developer of the challenge is Sackman Enterprises.
By the Numbers: Alternative zones acquired billions in tax breaks. Solely Ohio tracked the place the cash went
Opportunity zones are designated census tracts meant to spur financial improvement in distressed communities by tax incentives. But there isn’t any publicly out there federal database monitoring which zones really obtained funding, how a lot capital flowed in or what tasks had been funded.
Only one state, Ohio, collects and publicizes tract-level knowledge.
Thus far, the outcomes have been extremely variable. Just a third of the designated zones obtained financing from builders and buyers, with a lot of that capital flowing into market-rate multifamily housing and business tasks and into massive cities like Cleveland and Columbus, in accordance with research by Theodos and his colleagues.Â
Utilizing Ohio’s knowledge, the researchers additionally constructed a nationwide mannequin estimating which zones are almost definitely to draw funding. Their findings counsel roughly 60 p.c of zones nationwide are unlikely to obtain significant OZ funding.
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