City Real Estate Moves & Market Shifts

Big commercial and residential deals shook the city’s real estate scene this week, with a Garment District hotel selling for $39.9M and a Chelsea penthouse hitting $8.8M — both marking major jumps from their last sales decades ago. Multifamily properties in the West Village and Clinton Hill also saw hefty transactions, while over 230 deals totaling $687M closed over the weekend. Meanwhile, single-family home construction hit a three-year low as soaring mortgage rates, inflation, and affordability squeeze builders and buyers alike. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0465a5a0adc71a7e