Nearly 100K housing units have been approved in NYC since 2014. Here’s how many are affordable

In the last three years, affordable housing accounted for 21 percent of new residential units approved in the city, according to a new report by the New York Building Congress. From January 2014 through the first quarter of this year, the city approved permits for 99,124 residential units. Most of the affordable housing units – 39 percent – were located in the Bronx, according to the report. Brooklyn followed with 29 percent and then Manhattan []


New dev sales jump 25% in Manhattan

Residential Manhattan sales | Berkshire Hathaway Townhouse prices in Manhattan showed signs of recovery in the second quarter of 2017. While the number of contracts fell by 30 percent, the median price rose by over 9 percent. Read the full report here. Townhouse report | Leslie J. Garfield Greenwich Village commanded the highest average townhouse price in 2016, at $14.3 million, 70 percent higher than in 2011. Chelsea and Midtown East tied for lowest, at []

Auction giant Ten-X to sell to private equity firm for more than $1B

Private equity firm Thomas H. Lee Partners is purchasing the online real estate marketplace Ten-X for more than $1 billion. The company, formerly, brokers both commercial and residential sales on its platform, the Orange County Business Journal reported. It has sold more than $50 billion worth of properties since it was founded a decade ago, according to the publication. Ten-X described the sale as a majority recapitalization. The senior management and prior investors will []

Macmillan leaving Flatiron Building for Silverstein’s 120 Park

Macmillan Publishers is officially leaving the Flatiron Building, having signed up for 261,000 square feet at Silverstein Properties’ 120 Broadway. The space will span five full floors, the New York Post reported. In April, sources told The Real Dealthe publisher was weighing a move to the Lower Manhattan building, but the size of the space was not clear. Asking rents at 120 Broadway are in the mid-$50s per square foot, according to the newspaper. Macmillan []

Here’s what the $10M-$20M NYC investment sales market looked like last week

In the world of mid-market New York City investment sales last week, a storage facility in Upper Manhattan sold for $16 million and Sam Applegrad picked up a multifamily building in the Bronx. 1.) Bronx landlord Sam Applegrad bought a 68-unit complex at 41 Elliot Place in the Bronx for $10 million. The two five-story buildings are rent-regulated and located between Highbridge and Claremont Village. Applegrad has several multifamily properties throughout the Bronx and in []