Zohran Mamdani's Rent Stabilization Promise Sparks Increased Interest in New York City Housing Market
New York City sees 276 transactions totaling $657 million, with developer Rabsky making a notable $48M purchase in Tribeca.
In the fast-paced world of New York City real estate, it's no surprise that developers continue to dominate in the top deals. According to The Real Deal, there were 276 transactions totaling $657 million recorded in the city in the 24 hours before 4:00 p.m. on Friday, Sept. 19.
One of the most notable transactions was made by developer Rabsky, who paid a whopping $48 million for a second condo development site in the highly coveted neighborhood of Tribeca. This purchase is just one of many recent investments made by Rabsky, solidifying their dominance in the NYC real estate market.
The top residential deal of the day was seen in Greenwich, where financier Roberto Redondo sold a co-op at 30 East 10th Street for $5.9 million to Brett and Mallory Weinberg. Brett, who founded an advertising firm, and Mallory, a communications executive, purchased the three-bedroom duplex for roughly $1,800 per square foot. The unit had been on the market since March with an initial asking price of $6.5 million.
As developers continue to snatch up prime real estate in New York City, it's clear that the competition is fierce and prices are soaring. And with the city's top residential deal recorded in the coveted neighborhood of Tribeca, it's safe to say that the trend of developer dominance is here to stay.