T
here were 253 real‑estate transactions in New York City during the 24 hours preceding 2 p.m. on Tuesday, Dec. 30, with a combined value of $989 million. The most expensive residential sale was a three‑story penthouse at 823 Park Avenue in Lenox Hill. The 7,200‑sq‑ft unit, featuring five bedrooms, five and a half bathrooms, a private elevator, a home theater and three terraces, closed for $24.2 million—about 21 % below its last trade price of $30.5 million in 2008. The seller was an LLC controlled by hedge‑fund manager Joseph Edelman; the buyer was an LLC linked to Suzy Welch, widow of former GE CEO Jack Welch. The property had been listed since 2021, initially priced at $33.2 million, and had entered contract for just under $27 million per StreetEasy. Compass agents Maria Manuche, Clare Cukier, Michellke Flikerski and Reilly Lavrich handled the listing.
The top commercial transaction involved the sale of the Stewart Hotel at 371 Seventh Avenue and adjacent parking to Slate Property Group and its nonprofit partner Breaking Ground for $260 million. The 618‑room hotel, which closed in 2022, will be transformed into 579 affordable units with rents projected between $1,385 and $1,731 per month.
Other notable deals included BrightSpire Capital’s transfer of the seven‑story Blanchard Building at 21‑09 Borden Avenue, 168,000 sq‑ft, to Blanchard 2109 LLC for $21.5 million, backed by a $13.6 million BankUnited mortgage. BrightSpire had previously acquired the building and a neighboring property for $63.3 million from Related Companies and BentallGreenOak after their default.
The City and Country School purchased a 3,400‑sq‑ft townhouse at 152 West 13th Street in Greenwich Village for $18.8 million, paying $5,600 per square foot over the 2016 purchase price of $15 million. Finally, employment attorney Shari Coats and investment partner Stephen Coats sold a 3,700‑sq‑ft Tribeca condo at 100 Barclay Street to Kelly and William Galanis for $8.3 million, equating to more than $2,200 per square foot. Corcoran agents Tara King‑Brown and Danielle Morreale listed the property.
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