New York City Investment Sales Overview
(Click on the Property Sales Reports below to download)
The New York City investment sales market posted a first quarter dollar volume of $10.1 million -its lowest since the third quarter of 2017 and down 21.6% year-over-year. The number of properties sold in the first quarter totaled 743 properties, which is the lowest quarterly total since Q1 2013 and down 15.9% year-over-year. This figure can be attributed to looming rent regulation legislation that has left investors hesitant about the multifamily sector, which is typically New York City’s most abundant and active asset class. Price per square foot for core product averaged $587, the highest on record, up 11.2% from year-end 2018, suggesting underlying fundamentals remain strong.
To read the entire New York City Overview and the Property Sales Reports for each borough, click on the reports below.