Brooklyn clocked 324 investment-sales deals totaling roughly $2.2 billion in the first quarter, propelled more by a steady stream of midsize multifamily and mixed-use trades than by any single blockbuster trophy closing.
Ben Affleck and Jennifer Lopez purchased a contemporary Georgian-style estate in Beverly Hills for $60.8 million in May 2023, marking the most expensive celebrity real estate transaction that year.
The more wealth one accumulates, the more fragile one can feel. What begins as a quest for freedom can morph into a fortress mentality. I have seen peers-brilliant, driven individuals-become distracted by the fear of losing what they have built. Instead of leaning into the adaptability that made them successful, they retreat behind walls, both literal and figurative.
BHI provided a $167 million construction loan to Yellowstone Real Estate Investments for the conversion of the Candler Building into a 176-unit residential tower with retail space, totaling $203 million in financing.
Over the past three years, inventory has peaked in late spring, after a steady build through March and April. Sellers tend to list once the weather improves and before summer distractions kick in. That means more one-bedrooms in Brooklyn, more Upper West Side co-ops more everything. A surge of new listings at the end of 2025 suggests early spring buyers may see solid inventory with slightly less competition than the May frenzy.
Hal is a rare operator who is both fiercely competitive in business and genuinely empathetic in his relationships, and that combination so perfectly aligns with our values as a company that is growing. With his leadership and deep relationships across the residential ecosystem, Hal is a key player in our mission to capture meaningful market share in 2026.
The largest recorded residential sale in New York City was on Billionaires' Row, where a condo at 157 West 57th Street changed hands for $26 million. The four-bedroom pad has four and a half bathrooms and spans nearly 4,500 square feet; the sale works out to roughly $5,800 per square foot. Its last asking price appears to have been $29.5 million.
The portfolio is tied to a $22.5 million loan that has been securitized and sold to investors. The buildings are clustered around the Brooklyn neighborhoods of Bedford-Stuyvesant and Crown Heights, between Eastern Parkway and Brooklyn's Broadway. One of the buildings is in Borough Park.
For Manhattan real estate brokers, Vornado is a highly relevant and sought-after client. Because landlords like Vornado pay the commissions for both the landlord's and the tenant's brokers, remaining in Vornado's good graces can be vital to a broker's livelihood.