A snapshot of recorded transactions across the Midtown East sub-market for the second quarter of 2026, covering Midtown core, Flatiron, Gramercy and Murray Hill activity across office, development, multifamily, retail, hotel and special-purpose assets.
A high-level review of Q2 2026 investment-sales activity in Midtown East — volume, trends, and the five points that defined a record quarter.
Four views of Q2 2026 activity — historical context, year-over-year composition, asset-class mix, and neighborhood concentration.
| Asset class | $ vol | % DV | % Tx | |
|---|---|---|---|---|
| Office | $1,098.7M | 47.8% | 41.4% | |
| Development | $513.5M | 22.3% | 24.1% | |
| Special Purpose | $510.1M | 22.2% | 6.9% | |
| Hotel | $106.1M | 4.6% | 6.9% | |
| Multifamily | $48.4M | 2.1% | 13.8% | |
| Retail | $23.7M | 1.0% | 6.9% |
| Neighborhood | Tx | $ vol | |
|---|---|---|---|
| Midtown | 19 | $2,017.0M | |
| Flatiron District | 4 | $178.4M | |
| Gramercy | 4 | $74.7M | |
| Murray Hill | 2 | $30.5M |
Each Q2 2026 transaction is plotted at its address. Bubbles are colored by asset class and sized by sale price — the $491.1MM Madison Avenue & E 50th Street assemblage, the $378MM 575 5th Avenue office trade, and the two Park Avenue development sites read as the dominant bubbles in the Midtown core. Click any bubble for the deal details.
Near-term catalysts likely to shape Midtown East deal flow over the next two quarters.
The back-to-back 417 and 405 Park Avenue assemblages at ~$1,500/BSF reset the land basis for the corridor. Watch for follow-on assemblage activity and ground-up starts as developers move to monetize the East Midtown rezoning's density bonuses; a wave of new luxury supply is being underwritten at today's record bases.
With office at 48% of DV and pricing split between $800+/SF trophy product and sub-$480/SF repositioning stock, expect continued two-track activity. The 467-m conversion program keeps Class B/C office in the Garment District and Grand Central periphery in play for residential conversion — a source of both office trades and future development.
This quarter's scale — five deals above $125MM — was underwritten against an easing cost of capital. The pace of large-ticket clearing in 2H 2026 will track the Fed's path; a pause or reversal would pressure the top of the market more than the sub-$50MM segment that drove transaction count.
With the top five trades at 69% of dollar volume and Midtown proper at 88%, the print is powerful but narrow. The signal to watch into Q3 is whether multifamily and retail volume — thin this quarter — re-broadens the market or whether activity stays concentrated in large office and development tickets.
Complete transaction log for Q2 2026, sorted by activity date. Development trades show N/A for $/SF (the relevant metric is $/BSF); conversions, multifamily, retail, office and hotel show N/A for $/BSF (the relevant metric is $/SF). $/Unit is reported only for multifamily product with residential units. Footer $/BSF averages cover development trades only; $/SF averages exclude development.
| Address | Date | Price | Property type | $/SF | $/BSF | $/Unit |
|---|---|---|---|---|---|---|
| 300 E 42nd St #2 | 4/14/2026 | $22,000,000 | Retail | $425 | N/A | N/A |
| 575 5th Ave | 4/16/2026 | $378,000,000 | Office | $817 | N/A | N/A |
| 28 W 36th St | 4/16/2026 | $15,700,000 | Office | $270 | N/A | N/A |
| 40 E 23rd St | 4/16/2026 | $7,375,000 | Conversion | $808 | N/A | N/A |
| 417 Park Ave | 4/17/2026 | $251,715,000 | Development | N/A | $1,529 | N/A |
| 405 Park Ave | 4/17/2026 | $199,069,000 | Development | N/A | $1,468 | N/A |
| 130 E 37th St | 4/17/2026 | $8,500,000 | MF-MU 10+ resi units | $1,526 | N/A | $708,333 |
| 16 E 18th St | 4/17/2026 | $16,300,000 | MF-MU 6-9 resi units | $805 | N/A | $1,811,111 |
| 25 W 45th St | 4/17/2026 | $46,946,263 | Office | $250 | N/A | N/A |
| 842 2nd Ave | 4/17/2026 | $1,700,000 | Retail | $1,349 | N/A | N/A |
| 246 E 53rd St | 4/20/2026 | $15,200,000 | MF-MU 10+ resi units | $1,177 | N/A | $633,333 |
| 57 E 55th St | 4/23/2026 | $19,000,000 | Special Purpose | $1,307 | N/A | N/A |
| 1151 Broadway | 4/23/2026 | $29,200,000 | Office | $2,739 | N/A | N/A |
| 32 W 39th St #Office | 4/23/2026 | $14,598,660 | Office | $435 | N/A | N/A |
| 36 W 28th St | 4/30/2026 | $10,000,000 | Development | N/A | $225 | N/A |
| 34 Union Sq E | 4/30/2026 | $13,580,000 | Development | N/A | $522 | N/A |
| Madison Ave & E 50th St | 4/30/2026 | $491,100,000 | Special Purpose | N/A | $748 | N/A |
| 15 W 56th St | 5/5/2026 | $66,225,000 | Hotel | $1,205 | N/A | N/A |
| 165 E 56th St | 5/14/2026 | $39,000,000 | Office | $657 | N/A | N/A |
| 108 E 16th St | 5/18/2026 | $13,800,000 | Conversion | $705 | N/A | N/A |
| 28 W 37th St | 5/20/2026 | $18,000,000 | Development | N/A | $209 | N/A |
| 21 W 37th St | 5/27/2026 | $39,850,057 | Hotel | $1,149 | N/A | N/A |
| 893 Broadway | 5/29/2026 | $31,000,000 | Office | $1,218 | N/A | N/A |
| 22 W 23rd St | 6/2/2026 | $15,050,000 | Office | $916 | N/A | N/A |
| 19-25 W 44th St | 6/3/2026 | $108,000,000 | Office | $358 | N/A | N/A |
| 885 2nd Ave | 6/5/2026 | $265,250,000 | Office | $329 | N/A | N/A |
| 24 & 48 W 25th St | 6/7/2026 | $125,000,000 | Office | $481 | N/A | N/A |
| 38 W 21st St | 6/18/2026 | $31,000,000 | Office | $451 | N/A | N/A |
| 663 Lexington Ave | 6/30/2026 | $8,400,000 | MF-MU Small | $1,235 | N/A | $2,100,000 |
| AVERAGES | $79,329,620 | $896 | $791 | $1,313,194 | ||
| MEDIAN | $22,000,000 | $808 | $522 | $1,259,722 |
Reach out with questions on the data, the market, or specific transactions.
