Sales  ·  Commercial

Sales Deals of the Week: NYC Investment Sales Pick Up Steam


New York City investment sales are finally picking up steam after a sleepy 2023, with two development sites trading and a notable air rights deal going into contract. Legion Investment Group spent $68 million on a planned condo development site in Gramercy, while Chris Jiashu Xu’s United Construction & Development bought a large development site from Fisher Brothers in Long Island City, Queens, for $58 million. Citadel’s Ken Griffin, Rudin and Vornado Realty Trust (VNO) also went into contract on $75 million worth of air rights from St Bartholomew’s Church, which will help build Citadel’s new headquarters at 350 Park Avenue.

Amount Address Buyer Seller Broker Asset
$78 million 325 Park Avenue, New York Citadel's Ken Griffin, Rudin and Vornado Realty Trust St. Bartholomew's Church N/A Air rights
$68 million 252-258 Third Avenue, New York Legion Investment Group Multiple LLCs N/A Development site
$57.5 million 42-50 24th Street, Queens, N.Y. United Construction & Development Fisher Brothers CBRE’s Doug Middleton and Dan Kaplan Development site
$25 million 2121 Biscayne Boulevard, Miami Johnson Automotive Dealership Group Sikka Investments Apex Capital Realty's Rani Hussami Retail
$13 million 7150 Standard Drive, Hanover, Md. Distribution by Air Rialto Capital Management MacKenzie Companies' Andrew Meeder Industrial

Sales Deals of the Week reflects deals closed or announced from March 4 to March 8. Information on sales can be sent to