New York City’s multifamily investment market remained active in August 2025, with PropertyShark tracking the top five building sales across the metro. Deals spanned both Manhattan and Queens, underscoring the diverse investor appetite for luxury properties, historic assets, and stabilized rental buildings.
The month’s standout transaction was Naftali Group’s $810 million acquisition of 800 Fifth Avenue, a 33-story luxury tower in Lenox Hill. The 208-unit residential property was purchased from Spitzer Enterprises and Winter Properties, with JP Morgan financing the deal through $888 million in three mortgages.
Originally built in 1979, the tower is one of the premier addresses on the Upper East Side. Apartment units average 1,426 square feet, while the property also offers 40,560 square feet of office space. The sale, first negotiated in March, reflects investor confidence in Manhattan’s high-end rental market despite ongoing national headwinds.
In the West Village, an entity tied to Japanese firm Shinko Real Estate acquired a 22-unit building for $16.6 million from a private seller. The property, built in 1901, spans 9,530 square feet, with apartments averaging 953 square feet.
This marks the building’s second sale this year, following a $12.3 million trade in January, highlighting steady international interest in boutique Manhattan properties.
Two smaller Manhattan buildings changed hands for a combined $13.5 million. The portfolio includes a West Village property dating back to 1852, totaling 4,442 square feet, and a six-story Gramercy Park building built in 1910 and renovated in 2011. Together, they offer 15 residential units.
Queens also saw significant multifamily activity with the sale of 140-42 Sanford Ave., part of a three-building portfolio in downtown Flushing. The buyer acquired the assets for $12 million from a private seller.
The trio of properties had been targeted for redevelopment in 2019, with permits filed for a 34-unit multifamily building designed by Angelo Ng & Anthony Ng Architects Studio. The project, completed in 2022, now features 26,150 square feet of residential space and 8,939 square feet of office space.
In Murray Hill, Queens, Alma Realty acquired two adjacent six-story properties for $11.5 million. The buildings, dating back to 1929, include a total of 110 residential units. Alma Realty financed the purchase with an $8.6 million acquisition loan from BCB Community Bank, further expanding its portfolio in Queens.
While the Naftali Group’s $810M deal dominated headlines, the presence of multiple mid-market trades across Manhattan and Queens illustrates investor demand at a range of scales. International capital, local developers, and institutional lenders all played a role in shaping August’s activity.
With luxury towers, historic prewar walkups, and redeveloped mixed-use sites all represented, the data points to a resilient NYC multifamily market despite higher borrowing costs and broader economic uncertainty.
Originally reported by Simona Tudose in Multi Housing News.
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