By: Andrew Pittman
This month’s update highlights recent multifamily, mixed-use and development transactions across Downtown Manhattan.
Recent Downtown Transactions
17 East 7th Street — East Village · Oct 2026
- John C. Park purchased the 20-unit walk-up from Benchmark.
- Price: $6.6M (~$330K / unit)
212 Eighth Avenue — Chelsea · Sep 2026
- 9,891 SF mixed-use building with 17 apartments and one retail unit.
- Price: $10.3M ($1,041 / SF)
126–128 Tenth Ave & 456 W 18th St — West Chelsea · Oct 2026
- Toll Brothers expands its development assemblage. Combined with its earlier $53 million acquisition of neighboring 118 Tenth Avenue, its investment in the assemblage reaches $98 million.
- Price: $45.0M ($98M assemblage)
Source: public reports. Transactions highlighted are provided for market information and are based on published reports. Transactions not brokered by Landair.
Andrew’s Take: Buyers are still paying up for well-located Downtown assets, from $1,041/SF for a Chelsea mixed-use building to Toll Brothers’ $98 million West Chelsea assemblage. If you own nearby, these sales are a useful starting point for valuing your property.
Policy Update: NYC Targets Housing Construction Costs
NYC’s Department of Buildings has launched the Affordable and Efficient Code Reform Task Force to identify ways to simplify construction requirements and reduce housing development costs while maintaining safety standards. The city aims to introduce recommended code changes in 2027.
For owners considering redevelopment or substantial renovations, the initiative is worth monitoring as specific proposals emerge.
Andrew’s Take: Lower construction costs mean more sites pencil for developers, which can widen the buyer pool for redevelopment-ready properties. I’ll share specifics as proposals emerge.
100 Gold Street: Nearly 4,000 Homes Proposed
NYCEDC’s September 22 announcement outlines a proposed redevelopment in Lower Manhattan with approximately 4,000 apartments, including around 1,000 permanently affordable homes. Environmental review is underway, with formal land-use review expected in 2027. It hasn’t received final approval.
- ~4,000 proposed apartments
- ~1,000 permanently affordable
Andrew’s Take: Thousands of new apartments would bring new demand for retail and services around the Financial District. Nearby owners should keep an eye on the 2027 land-use review.
If you’re considering a sale or would like to discuss how recent transactions relate to your property, please reach out. I’d welcome the opportunity to learn more about your plans. Price My Property
Andrew Pittman
Senior Associate, Landair Advisors
Andrew Pittman is a Senior Associate at Landair Property Advisors, specializing in investment sales and development opportunities throughout Midtown and Lower Manhattan.
Andrew brings a client-focused approach to commercial real estate built on his experience in New York City residential brokerage, where he represented property owners, buyers, sellers, landlords, and tenants across a wide range of transactions. His experience navigating New York’s fast-moving real estate market has shaped an approach centered on responsiveness, clear communication, and understanding each client’s individual objectives.
At Landair, Andrew works closely with property owners to evaluate their assets, identify opportunities, and develop strategies designed to maximize value. His focus includes investment sales, development potential, zoning, and the factors that influence property values across Lower Manhattan.
Originally from Atlanta, Andrew previously lived in San Francisco before making New York City home.
Cell: (408) 623-1261 | Office: (646) 559-4700 | apittman@landairnyc.com
Landair Advisors | 221 W 37th Street, New York, NY 10018 | (646) 559-4700
